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Q. Personal loan

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Anonymous

posted 4 months ago

Sir I have taken a personal loan in india bulls dhani for a period of 48 months, from 3 months some financial problem not able to pay on the 5 th of due date , but I payed at the end of month, but this month i cannot pay them please give legal advice to protect form recovery team
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A. dear client kindly meet the branch manager and discuss your financial problem.try to settle your case amicably.

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Deepak Bade

Experience: 9 Year(s)

Responded 3 months ago

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A. U should meet Ur branch manager. Credit manager. Or settle it peacefully

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Rameshwar Dadhe

Experience: 2 Year(s)

Responded 4 months ago

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A. Dear Client,
You have taken the loan means you have to pay back with interest.
If you have any problem talk to the Branch Manager of the Bank.Take extra time with solid reasoning.
Shanti Ranjan Behera
Advocate

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Shanti Ranjan Behera

Experience: 22 Year(s)

Responded 4 months ago

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Anonymous

Replied 4 months ago

Thank u sir for the advice
But when speak to the executive they are not accepting for legal procedure, they tell when u have taken the loan u have to pay, i have sent a letter to the financial institution that i cannot pay the loan for 3 months , i have not received any reply from them every day iam getting a call to pay if i answer them my situation they are not bothered about my situation they tell we will send recovery team

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Shanti Ranjan Behera

Experience: 22 Year(s)

Replied 4 months ago

Dear Client,
You should not take medicine from two Doctors.
Shanti Ranjan Behera
Advocate

Reply

A. Dear Sir,
Ask them to approach the Civil Court and show them the following judgment
=============================================== ICCI Bank Limited vs. Prakash Kaur case,

The Supreme Court in a landmark judgement reiterated its earlier stand that banks cannot deploy musclemen for recovery of loans from defaulters thus forcing them to end their lives.

"We deem it appropriate to remind the banks and other financial institutions that we live in a civilised country and are governed by the rule of law," a bench comprising Justices Tarun Chatterjee and Dalveer Bhandari said.

The court while dismissing the ICICI Bank's plea refused to delete the Delhi High Court's remarks that held the bank and its musclemen responsible for abetting a youth to commit suicide by humiliating him and taking away his motorcycle financed by the largest private sector bank.

It also asked the ICICI Bank to to pay Rs 25,000 as cost of this litigation to the respondents within three weeks and directed the Delhi Police to conclude the investigation against the bank expeditiously within three months, keeping in view the gravity of the allegations.

The court also directed the concerned Deputy Commissioner of Police to submit the investigation report in the Delhi High Court.

According to the court, complaints received by Reserve Bank regarding violation of the above guidelines and adoption of abusive practices followed by banks recovery agents would be viewed seriously.

Reiterating the RBI Guidelines on Engagement of Recovery Agents, the court said, "The Reserve Bank may consider imposing a ban on a bank from engaging recovery agents in a particular area, either jurisdictional or functional, for a limited period. In case of persistent breach of above guidelines, Reserve Bank may consider extending the period of ban or the area of ban."

"RBI had expressed its concern about the number of litigations filed against the banks in the recent past for engaging recovery agents who have purportedly violated the law," Justice Bhandari, writing the verdict for the bench, stated.

RBI in a letter accompanying its April 24, 2008 Guidelines had stated that it might consider imposing a ban on a bank from engaging recovery agents in a particular area, either jurisdictional or functional, for a limited period.

ICICI Bank had moved the apex court seeking deletion of some paragraphs in the High Court order which had said that "...the proximate cause of death of the deceased that led him to commit suicide was on account of humiliation caused by the Bank people from where loan was taken by him."

"The modus-operandi employed by the banks like ICICI for realisation of their loan amount and for recovering the possession of the vehicle against which loans are given is extra legal and by no stretch of imagination they can be permitted to employ musclemen and goons for recovery of their dues even from a defaulting party," the High Court had observed.

The High Court order had come on a petition filed by Shanti Devi Sharma, the deceased's mother, seeking a probe against the ICICI bank and its staff for the unlawful action, which led to the suicide of her 34-year old son Himanshu Dev Sharma.

Sharma had committed suicide in October 2005 by hanging himself at his house after he was allegedly intimidated and humiliated in front of his neighbours and family by recovery agents employed by the bank for recovering the loan amount taken for his motorcycle.

The ICICI Bank had contended that it was within its rights to recover loans and had followed the required procedure for recovering dues.
==================================================
For full procedure contact me on mobile through Vidhikarya.

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Kishan Dutt Kalaskar Retired Judge

Experience: 33 Year(s)

Responded 4 months ago

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Anonymous

Replied 4 months ago

Thank u sir
I need a legal help fron u r end i can contact through this platform , i have taken the loan i will pay but need time, sir need help legally to get protected from the recovery team who visit my house
Thank u

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A. Dear sir, you can meet the branch manager and discuss your financial problem. For details, you can contact some advocate through vidhikarya.com

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Rajender Prasad

Experience: 5 Year(s)

Responded 4 months ago

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