Took loan from bank now unable to repay it
22-Mar-2023 (In Banking / Finance Law)
We are unable to the repay the loan of rs thirty lakh nor Interest to the bank since last two year. Now they have send the notice of acquiring our property within ten days what we can do in this matter
intimidate reply to there notice and dispute the allegation made by the bank, and also file legal proceeding and challenge the action taken by the bank failing which they will take over your property and will sale it to another person .
You will have challenge the notice sent by the bank or you can give undertaking for repayment of the loan and ask for extention of time limit for the same. The bank can sell out your property by auctioning it and therefore you will have to pay the dues amount.
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