Civil suit filed by the bank against education loan of my son
Education loan in the name of my son Manish Madhav for Rs.700000/- sanctioned by the Bank on 31/07/2009 for B.Tech (CSE),four year course in Amity University, Jaipur. loan disbursed by the bank semester wise and course completed but not in job at present, however, preparing for competitive examination(Govt.job). As per bank, provisionally repayment was due wef. 31/01/2014. Application submitted for reschedule the loan amount on 14/03/2015 and loan became NPA on 31/12/2015 as per bank.
I request bank through my mail ID on 22/04/2016 to reschedule the loan and shall pay on time in future but bank told that Rs.180000/- is overdue and after payment of this amount loan may be rescheduled. I told that this amount at once I can not pay.
I got legal notice by the Advocate of bank on 28/04/2016 in the name of my son (Applicant), myself (Co-applicant) and my wife (guarantor). I deposited Rs.20000/- on 04/05/2016 and requested bank through mail on same day to reschedule the loan. Sane day I also mailed to the Advocate of the bank and discussed on telephone. Advocate told that bank can reschedule the loan. Accordingly, I discussed with bank but bank did not agree.
Some how, I arranged money and deposited Rs.70000/- in June,2016 and Rs. 90000/- in July,2016 and intimated bank that account is regular now, please reschedule the loan.Again mailed to bank on 02/08/2016 and request to reschedule the loan. As per RBI guidelines, education loan can be paid within 15 years of time but I got notice from Civil Court to appear on 06/09/2016 as civil suit filed by the bank for recovery of loan outstanding.
Now, my questions are as under :-
1. In spite my repeated request for reschedule the loan, bank not responded even RBI guidelines is there.
2. Loan became NPA on 31/12/2015 but bank not informed me and send legal notice on 28/04/2016 and overdue amount gone up. If intimated in Dec.,2015 I could pay lower overdue amount and amount may be rescheduled.
3. Should I file a petition under RTI act to know in how many cases of NPA bank has filed case, because I think that bank is harassing me intentionally.
4.At last, please advice what should I do in this situation ? My son is preparing for Govt job. Whether this case may affect adversely on my son's career/future.
Thanks & Regards,
M P Singh
Asked 7 years ago in Civil Law