Finance, Forex and Investments

In India which concern is dealing all debts owed by indian citizen at any foreign countries..?

Is it RBI ..? or any other central banks..? or CBI like people ..? or Insurance agents assigned by foreign banks in india ..? to collect the debts owed by a resident and escaped to india. Is there any inter-pol involvement to deal the case or they can sue us legally by indian law..? Pls illustrate me clearly.... (my cousin is in deep trouble. how he can come out & to whom he can approach to get rid of them..?) Actually he was working in UAE, as his mother was serious, he came on Emergency leave & time extended due to the operation of his mother and he couldn't get back on time. He sent an resignation letter to his company by e-mail for their information. His presence is must by seeing his mother's condition. Now what will be his debts around Dhs.85 K (say nearly 10 lakhs of indian money) which he got as personal 1 year back and last 15 installments were paid on time. This was totally based on salary transfer loan UAE (dubai). Now what and all complications he would face...? Pls explain it in detail...

Public Comments

  1. i guess it all must depend on the amount/kind of money owed (credit card debt, loan etc). I don't think the banks will spend so much to collect small amounts e.g credit card debts. They will probably freeze your cards, report to credit monitoring agencies. I stand corrected though.
  2. I don't think there is anyone tracking the 'debts owed by Indians at any foreign country'. I understand that this is a debt owed to a financial institution in some country outside of India, by a person who is living in India and is a citizen of India. The financial institution abroad, to whom the person is in debt has to give the details to the police through diplomatic channels. Your question is not really clear. Where does your cousin fit in? Has he taken the debt and escaped to India? What does he have to 'get rid' of? The debt or the legal implications? In any case, payment of the debt in full is the best option.
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