428+ Lawyers are online 
Not able to repay personal loan. Retired judge appointed as arbitrator
02-Mar-2023 (In Arbitration Law)
I have a personal loan at Hdfc bank. Since I lost my job I am not able to pay balance 1.8 lacs for past 1 year. Hdfc bank has appointed a retired judge in mumbai as arbitratior. I don't have money to go to Mumbai and no money to repay the amount. What is the legal validity of arbitraor . What will be consequences if I don't appear before arbitraor. What if court orders to pay but I don't have money to pay. Plz guide me.
If you do not appear before the Ld. Arbitrator, the Ld. Tribunal mai pass orders against you.. orders may also be passed as to the attachment of your property for the recovery of the banks loan amount..it is advisable for you to appear before the Ld. Arbitrator and place your defence in the matter and go in for a settlement with the bank, if not already done so yet
Helpful?
30+
30+
Adv. Garima Anil Mehrotra
Mumbai | 500+ Answers
Chat
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Arbitration lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
