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Dear Client,
As per the RBI Guidelines, Banks/NBFC/FI are advised to ensure that the contracts with the recovery agents do not induce the adoption of uncivilized, unlawful, and questionable behaviour or recovery process. Banks/NBFCs are strictly advised to adhere to the guidelines/code mentioned above during the loan recovery process. In the given situation, filing a complaint against the recovery agents of the Pocketly at the local Police Station, a copy of the said complaint should be sent to

Dear Client,
Your query lacks information to address it properly. In the absence of an authentic bill against the sale of goods or any other cogent evidence supporting your claim, recovery of a sum receivable to seller from the buyer is not feasible/possible even through litigation.

Dear Client,
Chit Funds are registered by State Governments under the Chit Funds Act, 1982 administered by the Ministry of Finance but with responsibilities of implementation resting with the States. Unless a chit-fund business is registered following the provision of the Chit Funds Act, 1982 and the Companies Act, 2013 and the rules made thereunder, one can not start or run a business of chit-fund. Borrower is personally held liable for repayment of the debt. You can make a prayer to the Chit

Dear Client,
Once a borrower fails to repay his EMI against overdraft or loans by the due date as per the ECS mandate, it adversely affects the credit score and the repayment capacity of the borrower, and the lender initiates the recovery process by filing civil suits for recovery of dues before Civil Court/DRT serving a notice to the defaulted borrower/customer. Section 19 of the DRT Act enables a bank or a financial institution to recover any debt from any person by making an application unde

Dear Client,
Legally, a lender cannot attach or seize movable or immovable property in the absence of a Court's order. Once the repayment of the loan stops or bounces for three consecutive 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 Debt Recovery Tribunal. As per the RBI Guidelines, Banks/NBFC/FI are ad

Dear Client,
Private lending is impermissible under the law because, in India, moneylenders are governed by the Moneylenders 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 provisions of the Money Lenders Act and the state-specifi

Dear Client,
In the given scenario, when your approach for OTS of credit card dues was rejected by the Bank, you may negotiate or settle your dues against credit cards by following the steps like lowering your interest rate, arranging for a reduced interest rate is one of the most common requests a defaulter borrower can make to the Bank, creating or restructuring a repayment plan or extending the tenure of repayment of a credit card dues, looking for debt forgiveness. But all your attempts sole

Dear Sir,

File a Civil Suit for Recovery
If he doesn’t respond to the legal notice:

File a Money Recovery Suit in the Civil Court in Kolkata (as the transaction happened from your location).

Suit should be filed within 3 years from the date of loan.

You can claim principal + interest + legal costs.

Dear Sir,

The Wakf Act, 1995 governs Wakf properties. This Act gives significant powers to the Wakf Board. The Chief Executive Officer of the Wakf Board can remove illegal occupants or tenants who are not paying proper dues under Section 54 of the Act. While you haven't "officially" taken over, your continued association with the shop and the fact that it was your family's business might make you a de facto occupant in the eyes of the Wakf Board, especially if no other arrangements were made a

Dear Client,
In India, moneylenders 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 provisions of the Money Lenders Act and the state-specific rules. If any person or a group of persons is involve