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ICICI Bank vs me for Balance Car Loan of Rs. 2.5L


21-Sep-2023 (In Civil Law)
ICICI Bank filled case against me for non payment of balance 2.5L against my car. i have paid 4 yrs continue EMI, after job less i could not pay any EMI. i requested ICICI Bank to wait i will pay once i got job than also they have filled case against me in Dindoshi City Civil Court. Please advise what will be best solution in this where i can kept my car with me.
Answers (3)

Answer #1
569 votes
First of all there's no need to panic, there are thousands of cases like u everday. You should properly present your case before the court it a case has been filed. It would be extremely difficult to give you any specific advice without seeing your case documents filed by the bank in court. But i can assure you that you can retain your car with u and in no way the banks are authorised to away the vehicle in case of default.
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Advocate Sachin Vasant Pani

Adv. Sachin Vasant Pani

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Answer #2
890 votes
As you were regularly paying ur EMIs of car from past 4 years till u lost your job....u can legally ask for a precise timeframe to pay the pending amount with added penalty or assure them of any other mortgaged asset till u get a job.
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Advocate Seema Ravindra Kulkarni

Adv. Seema Ravindra Kulkarni

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Answer #3
860 votes
The bank cannot take your car unless the court allows or directs them by passing an order. You can put your contentions that you have paid a major amount already and is willing to pay the balance at the earliest, in your reply to their petition and request the court to grant you some time.
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Advocate Menaz Maqbul Shaikh

Adv. Menaz Maqbul Shaikh

LawRatoMumbai | 100+ Answers
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