Recovery of personal loan about six years back
I had taken a personal loan of 75000 rupees six years back. i repaid about 70 percent of the loan but due to bad financial circumstances could not repay the balance amount of about 29000 rupees including the intrest. now some recovery agent is harassing me and calling me that there is summons against me from the court. i have not received any written communication from the bank since last three or four years. can i be arrested without any legal notice.
Asked in Civil Law from Faridabad, Haryana
1) suit would be barred by limitation if you have not payment within last 3 years
2) file any suit is filed you would receive summons
3) contact a local lawyer and file detailed reply
4) don't make any payment to recovery agent
Hi, Suit for recovery of money is ought to have filed with in 3 years from the date of last payment. So that time is expire they can't recover the amount from you.
2. If the recovery agent is harassing you then lodge a police Complaint against him.
3. If you received any summons form the Court then you can contest the case on merits.
Recovery agents do not serve summons. Court summons are served by the process server of the court. Unless there is a decree passed against you by the civil court, which you fail to honour, you cannot be imprisoned.
You cannot be arrested on this account.
It is purely a civil matter.
The bank has to initiate process through civil court for recovery of loan and cannot indulge in any illegal act for recovering the same.
Since the loan is barred by limitation the bank may not be able to recover it officially.
If the recovery agents trouble you again you may lodge a police complaint against them.