B.K Rai
My father had taken loan from UP Sahkari Awas Nirman & Vitt Nigam Limited, Lucknow,UP amounting 2,00,000 in 2002. After depositing about 150000 my father lost his job and could not repay.
The lender traced us for payment but due to financial crisis we could not repay. In 2012 lender sent us notice for decree, in notice we found that in statement an amount of approx 50,000 deposited was not shown.
However we could not pay and appealed in Allahabad High Court f or account settlement. Mean while the lender charged 400000 as penal interest, 300000 as interest along with 200000 as principal. Now lender is claiming 900000.We want an y other solutions where we could settle without paying penal interest. Please advise us.
I C Naik
As the matter is in High Court you would certainly get justice.
