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UHello, everyone. I wanted to ask about the process after a personal loan and credit card has been sent for NPA from ICICI bank. My brother fell victim to a property scam and a travel agent scam where he lost well over 95 lakhs. He was made to pay 92 lakhs for a plot in Bangalore which was not registered under his name, also sold 2 other plots through a housing loan from LIC for 72 lakhs, lost about 5 lakhs to a travel agent when he was about to go on a foreign trip with friends, making him lose the flight tickets. Since he couldn’t face his friends nor his family, it ultimately led him to attempting suicide in December of last year.
However, he tried clearing as much as possible by taking loans from the apps found in the play store. We were able to pay back the money as we didn’t want to deal with their extremely unprofessional recovery agent and policies. But the problem lies in the repayment of his other big loans with ICICI and LIC. We’ve spoken with the LIC manager, who has informed us that it won’t be considered NPA till March 7th. He had taken about 20 lakhs as personal loan from ICICI, 18 lakhs of which is unpaid dues. The recovery agents kept coming over and harassing the residents. Finally the bank manager himself came over to speak and all he said was pay the EMI, giving 0 regards to the situation at hand. The loan has been marked as NPA, I wish to know what happens after this. It has been 2 days since the manager approached us and we are yet to hear from the bank. What sort of legal trouble will we find ourselves in, I do not know. -
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UI didn’t want to include this in the main post, but the main trigger point that led him on this path was when he was supposed to leave for Singapore with his friends, but since he had lost the flight tickets money to a travel agent, he could not leave and did not know how to face his friends after this. He had also lost another friend’s flight money as well. He lost a lot of the family’s money too with his property scams, so he felt like he was unable to face both his friends and family and unfortunately the stress was too much to handle for him. If you’re here to ask questions on how this happened and how someone can be so stupid, please stop. The series of scams were so complicated and carried out throughout the course of 3 years and really well executed. Thanks for the replies.
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IBanks would follow the usual steps – internal recovery and then pass it on to TPAs (read up on earlier comments for this).
If recovery via intimidation/harassment fails, and as the amount is high, the bank would likely file a civil suit against your brother in hopes of recovering some part of the money.They could also try to add pressure by adding criminal charges if your brother had approved ECS or had given cheques.
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