default in refunding my fixed deposit and interest
default in refunding my fixed deposit and interest
I and my wife had invested Rupees one lakh each in three year fixed deposit in a company called Future Enterprises limted /Big bazar.The company is shut down and no response in refunding my principal
Posted 4 days ago
A. Dear client, in my humble suggestion, when a company shuts down, unless a tiny amount of the investment is redeemed through the sale of any company assets, investors lose all of their money.
Advocate Anik
Bangalore
Unable to pay home loan as the borrower as done sucide
Borrower cannot pay home loan bcoz he cannot expired sucide .Wife is coborrower .now Karnataka Bank is pressuring his wife to pay the loan.Bank people have visited their flat and taken photo of the ho
Posted 5 days ago
A. Dear Sir,
Normally, the borrowers life will be insured and if death happens insurance company repays the entire loan but in the about case since it was suicide as such the Bankers might be approaching his wife. Better to allow the bankers to sell the property or interest will be accumulated and his wife cannot pay such huge amount in future.
Advocate Anik
Bangalore
Too much loan penalty on commercial vehicle
Before lockdown we asked bank branch to restructure our loan emi's into smaller emi as bussiness not going well. Our loan start form may 2017 to march 2021 and we manage it to on track by dec 2019 but
Posted 1 week ago
A. Dear Sir,
Now it has been settled law that during the period of lock down commercial vehicles could not ply on the roads as per the Government circulars and Government is not suppose to demand tax for that period. You may file Writ Petition accordingly and get appropriate relief.
Advocate Anik
Bangalore
Advocate Anik
Bangalore
I have banks debts
I have banks debts and right now i am now unable to the pay emi's on time..Debt collectors also forcing me to pay in 1 hour anyhow... i requested all the debt collector to please make my total outsta
Posted 1 week ago
A. You can ask the lender banks instead of the debt collectors to to reset your EMI for a longer term by communicating to them about your inability to payt he EMI's and staying the genuine reason.
Advocate Anik
Bangalore
Kishan Dutt Kalaskar Retired Judge
Bangalore
Clarification on EWS certificate
Hi sir My father used to run a business 9 years ago.unfortunately business did not run well . having no other choice my father filed an Insolvency petition.The opposite party filed counter petition.It
Posted 2 weeks ago
A. You're capable of EWS category, since your father has no flowing income therefore you can apply for EWS category
Advocate Anik
Bangalore
Kishan Dutt Kalaskar Retired Judge
Bangalore
Gone Bankrupt - I have huge debts
Hi ! I have huge debts (30 lacs) & i m not in a position to pay. Loan on credit card blocking the limit. What do I do now. I do not have any property of my own.. I m disowned by my family too. wh
Posted 2 weeks ago
A. Dear client,
You need to declare bankruptcy and file for insolvency. When you file for the insolvency under the Presidency Towns Insolvency Act, 1909, the possession of the assets shall be taken over by the receiver/ assignee appointed by the court. Then a repayment plan will be considered, prepared and placed before the creditors. Then a plan is prepared for payments to your creditors as full and final discharge of all your obligations in a phased manner.
Thank you.
Advocate Anik
Bangalore
Kishan Dutt Kalaskar Retired Judge
Bangalore
Education Loan Repayment - I have borrowed education loan
I have borrowed education loan of amount 4 lakhs and I was unable to pay after my degree completion due to unemployment. Now I have requested bank for OTS. since the account became NPA. I have deposit
Posted 3 weeks ago
A. It is not clear what was the mode of discussion, if its orally, you look for a written order. If its in writing like OTS letter, you may issue a legal notice to clear the loan and issue NOC/NDC
Advocate Anik
Bangalore
Kishan Dutt Kalaskar Retired Judge
Bangalore
Subhashis Paul
Kolkata
Unable to Pay Emi's for MY pERSONAL LOAN AND CREDIT CARD LOAN
Dear Team, I am under debt of 28 lakh personal loan and credit card loan. I have paid all my EMI's till date by taking loan after loan but now i am unable to pay EMI's. My monthly EMI's are 1.30 lakh
Posted 3 weeks ago
A. You may ask the lender to reset your EMI for a longer loan tenure by communicating to him your inability to pay EMIs is due to a genuine reason of the short-term difficulty, you can discuss the matter with your lender. You can try to persuade your lender to understand your difficulties and convince them that you can resume your loan re-payments soon. You can show your track record of repaying your previous loans on time in order to convince the lender.
Advocate Anik
Bangalore
INSOLVENCY - I AM NOT ABLE TO PAY ALL MY DEBT
I AM NOT ABLE TO PAY ALL MY DEBT SO THATS WHY I DECIDE TO FILE INSOLVENCY PETITION SO I WANT TO KNOW THAT IF I FILE INSOLVENCY PETITTION AND THEN SOMEONE FILE CASE AGAINST ME U/S 138 SO WHAT HAPPEN T
Posted 4 weeks ago
A. If the court is satisfied with your insolvency petition, then the court will direct the order to put a stay on all your assets and no order can be passed in that matter.
Advocate Anik
Bangalore
Subhashis Paul
Kolkata
Can a individual salaried employee file for bankruptcy
I have almost 26 Lakhs personal, Credit Card Loans and Balance on Credit Cards. Till now I have managed to pay EMI's and Minimum Balance without miss. However, going forward it is not possible for me
Posted 1 month ago
A. Yes sir, you can file for bankruptcy even if you're working or have a job, also in my suggestion you shall give a notice to the branch manager intimating about the incident and finding a way out without leading for a case.
Advocate Anik
Bangalore
Kishan Dutt Kalaskar Retired Judge
Bangalore
