Personal loan of Axis bank
2 years ago
Since April 2021 I cant able to pay my EMI due to non payment of salary for lockdown (loan amount Rs 624000/-) and requested bank for moratorium, already bank had started providing moratorium physically. So I had meet the branch and branch people told that by this week digital link will get uploaded and that time you apply. But all of a sudden Axis bank had send a notice of Section 20(2) and refer to Lok Adalat to settled the same, but my point is at this time I am unable to settle the loan. So please advice what to be done.
A.Dear Sir,
Since it is a personal loan if you have no amounts then you need not approach Lok Adalath for settlement. Let this Bank approach Arbitrator or Civil Court for recovery of the same then you can raise all your defenses.
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Since it is a personal loan if you have no amounts then you need not approach Lok Adalath for settlement. Let this Bank approach Arbitrator or Civil Court for recovery of the same then you can raise all your defenses.
Rate me Five Star*
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A.Hi,
You can file a petition in the lok adalat and ask for settlement and moratorium by stating the reason for non payment of the amount by your end.
If you find it helpful, kindly rate my answer. Thank You.
You can file a petition in the lok adalat and ask for settlement and moratorium by stating the reason for non payment of the amount by your end.
If you find it helpful, kindly rate my answer. Thank You.
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hi,
You can take up the matter in the lok adalat, therein you can explain your inability to pay the loan amount. You can reach a settlement with the bank in the lok adalat.
If you like my answer, please rate me.
You can take up the matter in the lok adalat, therein you can explain your inability to pay the loan amount. You can reach a settlement with the bank in the lok adalat.
If you like my answer, please rate me.
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