Is there a legal action against credit card defaulters in India?

Answer 1

Credit card defaulters will charged under at least 4 sections of IPC. A non-bailable warrant (NBW) can be issued. The person will have to hire a lawyer then to get bail and take further course of action. Simultaneously the collection agents (mostly ex police officers) deputed by banks will be approaching the person, the person's family and Boss via phone, mails, and in person and can charge you under economic offence act of the Government of India as a part of global credit card fraud fraternity. The offender will never be able to get any loans from any banks. The person's parental property / vehicle etc can be attached to recover in case the person will not be able to pay even after court hearing. The person will certainly not be imprisoned but the person's life will be worse than any prisoner in the world.

NOTE : Legally no court in India can imprison you on credit card default. A civil proceeding can be initiated against you. But court cannot issue arrest warrant as credit card default is not a criminal offense in India. In cause of personal loans, banks willingly bounce your cheques to file criminal proceedings against you... If you are being harassed by banks threatening to file criminal case, tell them to take legal action and you report them to banking ombudsman.