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Consequences of borrowing money from a bank and disappearing
27-Jul-2023 (In Banking / Finance Law)
Sir, I have one question. my friend took Personal Loan in two banks (of sum 2.5 lakh) he paid for 6 months to both those banks. Right now he has some financial crisis, he stopped paying loan and he moved from City and changed his address without informing him it is about nearly 4 months since he moved from given address to banks. Now how will they proceed and what will happen (also changed his phone number) and he has given cheques and salary certificate (he also shifted to another private company) he has no properties like house, land etc. plz tell me, sir,
Hi, He will not escaped from banks. Nowadays banking system was very powerful and technology also very powerful. You said that he is working in some private company right. Banks will traced him through the PAN Number and reference persons contact numbers at the time of personal loan. So , escaping from banks was a foolish idea and the fines are increasing drastically. Nobody can escape from technology like aadhar , phone number, emails, voice recognition, facial recognition , Artificial intelligence, etc.
Thanks for your query, have a nice day. Good luck.
Thanks for your query, have a nice day. Good luck.
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Adv. Syam Charan Godi
Hyderabad | 100+ Answers
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