Credit card default and Bank loan non payments results in criminal charges

[Dr. Ashok Dhamija]

Generally speaking, credit card default and non-payment of bank loan would not amount to criminal charges. It is basically a civil matter for which the bank may file a civil suit to recover the amount or take action as per whatever other remedy is available to them for recovery of the amount, such as under the SARFAESI Act, if applicable in the fact situation of the case.

However, if there are some additional facts in a given case, which attract the ingredients of a criminal offence, then it is a different issue altogether.

Rest of your questions are hypothetical. If a criminal case is made out, then definitely, depending on the nature and facts of the case, FIR can be registered and arrest, custody, etc., may follow. But, in the given facts, your question is hypothetical.

     

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Dr. Ashok Dhamija is a New Delhi based Supreme Court Advocate and author of law books. Read more about him by clicking here. List of his Forum Replies. List of his other articles. List of his Quora Answers. List of his YouTube Videos.

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