Summary:
1 (main borrower) being the principal borrower as it is stated in the plaint that the co-borrower has already expired. The court issued summons to the principal borrower but he failed to appear. But they, through letters to the bank, acknowledged their liability to the bank. more-inA Delhi court has allowed a public sector bank to recover ?3.16 lakh of education loan from a man who defaulted on its repaymentHe had taken a loan of ?3.30 lakh from the bank at the rate of 10.75% interest per annum promising to repay it in 84 equated monthly instalments. Failed to appearThe bank sent a legal notice to them but they neither replied to it nor did they make any payment..