Lawsuit in India for a loan in Kuwait
Lawsuit in India for a loan in Kuwait, is it a possibility?
There is a growing concern among Indian ex-pats of Bahrain if a lawsuit in India for a loan in Bahrain is possible. Yes, People have been getting legal notices for their liabilities in Kuwait. You will find many news articles that have reported Indians being arrested or undertrial for liabilities in Bahrain.
Yes, it is a possibility. But as of now the only bank actively filing cases to recover from Indian Expats Is GBK. Click here for related news articles.
Can the Kuwaiti banks file lawsuits in India?
The banks can file cases all over India as the courts in Kerala have decided to favour the banks. On this basis, the doors have opened for all the banks in Bahrain and the banks in GCC. It seems that it is only a matter of time before the other banks follow suit and file legal cases in India to recover their money.
Should I worry about getting sued in India for a liability in Kuwait?
The majority of the people who work and live in the GCC have a credit card or loan with a bank. many of them may face challenges in repaying them and some may even fail to do so. This does not directly translate into an asset freeze or case in India. Many prerequisites need to be in place for the bank to file a case in your home country.
If you have a pending liability in Kuwait or elsewhere in the GCC, please feel free to book your one free consultation by clicking on the link below. Your advisor will be in a position to explain the process and guide you according to your situation and needs.
What should you do if a case is filed against you by a Kuwaiti bank.
Once you have received confirmation from the appropriate authorities that a case has been filed against you in India first and foremost lawyer up and don’t try to negotiate without a lawyer. Most of the time the banks will be more than happy to make an out-of-court settlement. This is because no one wants the courts to go through their personal finances and find more irregularities which they can be held accountable for.
What to do if you face a Lawsuit in India for a loan in Kuwait.
The banks have the authority to empanel a third-party agency to recover their funds. These third parties can be a call centre or other such agency. There are many such agencies, but always make sure that they are truly who they say they are. Ask for the relevant documents from them to make sure they are empanelled by the bank. You have all the right to check the person and the company that is approaching you.
They primarily adopt scare tactics to try to induce a payment from you. There is nothing to fear here as long as you have followed the laws and have your paperwork in place. If you require a detailed plan to become debt-free anywhere in the GCC, you can book a complimentary consultation through us, and we will be more than happy to help you.
