LawRato

Request to Honor Settlement with axis Bank. ................


25-Nov-2025 (In Recovery Law)
I took a ₹5 lakh Axis Bank personal loan and paid ₹2.8 lakh, but due to 15 months of medical and financial issues the amount rose with interest and penalty. The Nodal Officer approved a ₹1.9 lakh settlement, but the collection officer denied it, saying arbitration notice and award were issued, which I never received. Now we are going legal action against you and garnishment you salary. My salary is very low. What I do
Answers (1)

Answer #1
986 votes
We can understand your grief Ex parte sole arbitrator awards are declared null and voide by Supreme Court. Appropriate application can be made to get such awards quashed. This could help you come to a best possible solution as per your financial condition
Helpful? LawRato LawRato
Advocate Anuj Goel

Adv. Anuj Goel

LawRato Delhi | 50+ Answers
Chat with Advocate Anuj Goel Chat 

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.

Report abuse?

Connect with top Recovery lawyers for your specific legal issue
Connect with a Lawyer
Comments by Users

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."

All Answers

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

LawRato