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Dear client,

In situations like this, where a company fails to honor an investment agreement and the management is unresponsive, you can take a few steps to protect your interests and seek recovery. Here’s a recommended course of action:

1. File a Police Complaint:
In Chennai: Since the company is based in Chennai, you can file an FIR (First Information Report) there, preferably with the Economic Offenses Wing (EOW) of the Chennai Police. The EOW deals with financial fraud and investment sca

Dear Client,
A credit card holder is held personally liable for non-payment of the outstanding amount of the loan/credit card. If a suit for recovery of an outstanding loan from the borrower is filed by the Bank before a Civil Court/DRT, after hearing both parties Court may even pass an order for attachment of immovable or movable property of the borrower for recovery of the loan including attachment of salary account of the defaulter borrower. Until and unless an injunction order is passed by

Dear Client,
In India, money lenders are governed by the Money Lenders Act, 1957 in different states. Any individual/organization engaged in a money lending business must hold a license from the appropriate authority such as the RBI or the State Legislature. A money lending license is usually granted by the Revenue Department of the respective state government in compliance with the provision of the Money Lenders Act and the state-specific rules. If any person or a group of persons is involved

Dear Client,
A borrower of a loan or debt is held personally liable for his or her debt for non-payment of the outstanding amount of the loan. Once the repayment of the loan stops or bounces for consecutive 3 occasions the Bank initiates a routine course of legal action for recovery of the loan from the borrower marking the loan as a bad loan/NPA and offering the borrower for one-time settlement of the outstanding loan before approaching the Court for recovery of the loan from the defaulted bor

Dear Sir,
The owner may lodge a complaint for misusing the electricity bill and approach the sanctioning authority to recall such loan immediately and also recall guaranty-ship.

Dear client,


Yes, arbitration can take place in case of a car loan default if there is an arbitration clause in your loan agreement. Many financial institutions include an arbitration provision in their loan agreements to resolve disputes through arbitration instead of going to court. If you default, the lender can initiate recovery through arbitration.
In arbitration, an arbitrator is appointed who listens to both parties and makes a decision. You will receive a notice if arbitration proceedi

Dear Client,

Hope this reply answers your query. Firstly, you can try having a negotiation with your money-lender regarding your existing financial situation and ask him to reduce the interest rate. Other way is you can approach a bank and take loan to clear the current debt.

Dear Client,
Once a debt becomes time-barred, creditors or debt collectors can no longer sue the debtor to enforce repayment unless there is a continued cause of action. The limitation period for debt recovery in India is typically three years from the date the cause of action arises, that is the date when a loan is declared bad loan or NPA. However, different types of debts may have different limitation periods and the statute of limitations varies by state and type of debt. Section 19 of the

Dear Client,
A promissory note is a tool made in writing way with an open contract to pay a specific fund of the amount to a specific person or the agency's bearer and marked by its creator. Section 13 of the Negotiable Instruments Act, 2000 defines a “negotiable instrument” as a promissory note, bill of exchange or cheque payable either to order or to bearer. Section 13 of the Negotiable Instruments Act, 1881 defines a “negotiable instrument” as a promissory note, bill of exchange or ch

Dear Client,
The rules issued by the RBI regarding debt collection are of importance to a range of players within the financial system. Regarding the borrowers protection, during the debt collection process, borrowers are shielded from unfair practices and harassment by a framework provided by the rules. At first contact the lender and request them to have a settlement. If you see that the lender is a registered Non-Banking Financial Company or comes under the purview of the RBI, you can file a