[User_f73a2291]

U

User_f73a2291
OP
February 3, 2025 at 6:32 pm

I see.

Thank you so much! Surely helped.

Share

[User_f73a2291]

U

User_f73a2291
OP
February 3, 2025 at 6:22 pm

Idk if mentioning the section of the case will help but it is section 25 of payments and settlements act.

And thanks for your inputs. There is no collateral or any guarantor. All the loans are unsecured and taken through NBFCs.

Share

[User_f73a2291]

U

User_f73a2291
OP
February 3, 2025 at 5:58 pm

For the proceedings, we looked up the case number and it shows criminal proceedings.

Also, if someone doesn’t have the money to pay how are NBFCs going to recover the unsecured loan?

The whole aim is to not get into any legal complications and pay off with settlement. Hence knowing how bad it can get so that the person is prepared.

Share

[User_f73a2291]

U

User_f73a2291
OP
February 3, 2025 at 2:53 pm

Hi, thanks for your response. The nbfc which has filed the case has provided a case number and it says it is a criminal proceedings . A legal notice as well as cognizable warrant has also been issued.

What are the consequences here?

Share

[Author]

Posts