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Loan default after 6 months loan amount used for marriage and gold buy
14-Feb-2026 (In Recovery Law)
Hi,
I have taken loan of 30 lakhs from 3 banks, i have paid emi of 3 months now i an bouncing the emi, i have money in mutual fund and share market of 20 lakhs , but I don’t have money to payback loan amount as i used loan amount for my marriage and gold purchase for wife. So tell me how to settle loan without selling my demat account share and mutual fund and gold of my wife and mother
In your case a structured plan is required to avoid the sale of assets along with repaying the Loan. Firstly you need to talk to your banks and restructure you EMI’s and plan a way out as per your monthly earnings. Though Interest rates are generally higher than the returns on MF’s and equity shares, therefore you should consult an advisor at the earliest. You may contact us for a strategy to overcome this situation.
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Adv. Avinash Gaur
Delhi | 5+ Answers
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Hi, my name Adv Deepak practising in delhi courts. I have already handled loan case and successfully settled many cases in last year and right now also handling loan settlement case of many clients. I can settle all you loan whether it would be secured and insecure loan in span of 6- 10 months . For further information and inquiries pls do connect with me once .I can guide you the path , pls do not worry and do panic by recovery call and notices.
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Adv. Deepak Ranjan
Delhi | 5+ Answers
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Hi
You may, in the first instance, call upon the Bank to consider a One Time Settlement (OTS). If the Bank agrees to engage, the settlement amount is ordinarily negotiated at a figure materially lower than the present outstanding, thereby reducing your immediate financial exposure.
If, however, the Bank declines to extend an OTS, it is likely to initiate recovery proceedings. In that event, we will be required to enter appearance and contest the claim on merits and on maintainability, and to promptly pursue appropriate interim protection, so that coercive measures are restrained and your assets are insulated from attachment and sale, to the fullest extent permissible in law.
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Adv. Pragati Srivastava
Delhi | 5+ Answers
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It's a valid question you have in which I will certainly try to help you further. But, certain more information about the facts of your matter are required without which proper and complete answer and legal assistance or solution cannot be provided at this stage. I encourage you to reach out for detailed legal consultation with me for speedy resolution and legal assistance and support to you which best suits your interests. I believe there is a way to avoid selling any demat shares or mutual funds and gold and to still be able to salvage and save the situation for you. Best wishes. Thanks.
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Adv. Abhijeet Negi
Delhi | 5+ Answers
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Legally: If loan is unsecured → Bank cannot directly seize your shares or wife’s gold, They need a decree/arbitration award first. Wife’s gold is safe unless she is co-borrower/guarantor.
But:
If court decree is passed → attachment of financial assets possible. So delaying too long is risky.
Many banks offer:Overdraft facility against mutual funds, You retain ownership, Interest only on used amount
This is smarter than default.
If You Want Legal Protection Time (Court Route, You may: File Civil Suit for Injunction (rare & weak unless procedural violation)
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Adv. Jayatee Chatterjee
Delhi | 5+ Answers
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