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Legal remedies for loan default and relief entitlement?

Frequently Asked Legal Questions and AnswersCategory: Banking / FinanceLegal remedies for loan default and relief entitlement?
Munapatr asked 12 months ago
What are all the Legal remedies for loan default and relief entitlement?Legal remedies for loan default and relief entitlement?

Legal Guidance and Representation Request

Overview of the Legal remedies for loan default and relief entitlement Case

I am reaching out to seek your esteemed firm's legal guidance and representation in a pressing matter I am currently facing. To provide you with an overview of the case, I am a resident of Orissa and primarily engaged in the business of renting vehicles. I had availed a loan of INR 26,82,000 from Induslnd Bank, of which I have already paid approximately INR 15 lakh. However, I recently received a notice from the Madras High Court, demanding payment of INR 24 lakh. Regrettably, I defaulted on an installment of around INR 8,50,000, spanning a period of approximately ten months. As a consequence, I have been summoned to appear before the Madras High Court on the 22nd of this month.

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Request for Legal Expertise

In light of these circumstances, I kindly request your legal expertise to understand the remedies available to me and the potential relief I can get. Moreover, I am seeking your professional advice to navigate through this challenging situation and protect my rights and interests. Furthermore, I understand the urgency of the matter and would greatly appreciate it if your firm could arrange a consultation at the earliest convenience with regards to Legal remedies for loan default and relief entitlement. Please let me know the necessary steps to proceed and any documents or information you may require from my end.
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