Agricultural loan
4 years ago
I have taken land development loan for my agri land from Indian Overseas Bank in 2012 and subsequently upgraded another loan in 2015. Now the Bank are saying that your account becomes NP and you have to close it or go for One time settlement.
Otherwise they will take legal action. What shall I do?
I have two questions.
1. If IOB bank go for legal action what is the consequences?
2. If I go for One Time Settlement and if I am not able to pay in time, (of course not at all possible) what is the consequence.
A.Dear Sir,
Now, the bankers have full powers to go to Debt Recovery Tribunal or Arbitration and get a decree summarily and sell your property.
Please take PAID phone call with me through VIDHIKARYA and get more legal guidance.
Now, the bankers have full powers to go to Debt Recovery Tribunal or Arbitration and get a decree summarily and sell your property.
Please take PAID phone call with me through VIDHIKARYA and get more legal guidance.
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Rameshwar Dadhe
Responded 4 years ago
A.You will need to file case against them immediately. For your benefits
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