How To Put Stay On Bank EMI In Insolvency Case Of Jaypee

I had purchased a flat in Jaypee Kove, Yamuna expressway and now JAL is undergoing insolvency but I am paying EMI from last 7 years. Is there a way to get a stay from the court for paying EMI until the process is completed.

Answer (1)

Team Legistify

  • Sector-1, Noida

You can file an application with the bank stating that the legal case is ongoing and you need to stop the payments unless it is resolved.

However, you cannot stop the payments unless you are a party to the suit. You cannot stop the payment on the basis of suits filed by the others.

Answered on 20 Oct 2019

Was this answer helpful?

Yes   No

Didn't find the answer you are looking for?

Talk to experienced lawyer online and get your answered in minutes.