371+ Lawyers are online 
I bought instant loan in an online loan app. Due to some personal problem I can't pay that EMI on t
26-May-2023 (In Recovery Law)
I bought instant loan in an online loan app. Due to some personal problem I can't pay that EMI on time. The interest for that amount is so high like usury. Now they are send a document. It contains, the loan app will file criminal case under IPC section 34, 120b,403,409,419,420,468 and also information technology act section 66, 66d. I gave the true informations of mine on loan application ( as per aadhar number, PAN). In this situation Can they file suit under this sections
The threat of criminal action from a loan app for non-repayment of a loan seems to be more of an intimidation tactic rather than a solid legal action.
The Indian Penal Code (IPC) sections you've mentioned mostly concern criminal conspiracy, dishonest misappropriation of property, criminal breach of trust, cheating, and forgery. If you've given true information and didn't have any fraudulent intent when you took the loan, it's unlikely these IPC sections can be applied.
Furthermore, Section 66 and 66D of the Information Technology Act concern computer-related offenses and identity theft, respectively, which again, don't seem applicable to your situation if you've provided true information.
However, while criminal charges might not hold, the lender can take civil action against you for recovery of the loan. High interest rates might be subject to usury laws in your state and you might have grounds to dispute them.
The Indian Penal Code (IPC) sections you've mentioned mostly concern criminal conspiracy, dishonest misappropriation of property, criminal breach of trust, cheating, and forgery. If you've given true information and didn't have any fraudulent intent when you took the loan, it's unlikely these IPC sections can be applied.
Furthermore, Section 66 and 66D of the Information Technology Act concern computer-related offenses and identity theft, respectively, which again, don't seem applicable to your situation if you've provided true information.
However, while criminal charges might not hold, the lender can take civil action against you for recovery of the loan. High interest rates might be subject to usury laws in your state and you might have grounds to dispute them.
Helpful?
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 Recovery 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."
