Loan default due to crushed my business
5 years ago
I have taken a business loan from kotak mahindra bank . due to my business crushed down i can't able to repay my emi . i request my bank to reduce my emi.. Can bank reduce my emi.. Or what can i do legally to my bank
A.Dear Sir,
You may approach Banking Ombudsman or Higher Officers of Bank. They have discretionary powers.
Thanks.
You may approach Banking Ombudsman or Higher Officers of Bank. They have discretionary powers.
Thanks.
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Shreyash Mohta
Responded 5 years ago
A.Try to talk to bank and repay the same in installments. If not then file an insolvency suit.
Thanks
Shreyash Mohta
Thanks
Shreyash Mohta
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Alpesh prajapati
Replied 5 years ago
I will try .. But insolvency is claim by other party.. Can i file my insolvency by self ?
Rameshwar Dadhe
Responded 5 years ago
A.It is binding on to pay it . U can make request to the bank manager for it
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