| Address: | C87, Fort Station Rd, Opp Cethar Hospital, Thillai Nagar East, West Thillai Nagar, Thillai Nagar, 620018 |
I have been doing transport business for more than 20 years and i have survived through the ups and downs in it.
I borrowed a loan of 20 lakhs from tamilnad mercantile bank at 2016 with monthly installments of 50 thousand.
I paid them regularly without any default till 2018 december and suddenly business started to surge.
I have paid 13.5 lakhs in total till march 2019 and remaining loan amount was 15 lakhs. I also approached general manager and requested to deduce the loan amount to 13 lakhs for final settlement at october 2019, at this time my business was all time low..
The gm said they need to inspect the vehicle for any reduction and for foreclosure. Instead the banking team, seized the vehicle without any prior notice or giving any intimation, they didn't even get acknowledgement for the seizure. They literally took it from me like thieves.
This all happened yesterday.. I am gonna sue the bank for their unethical method of recovering loan in threatening fashion.
Can you help me or suggest me anything useful?
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