No Money To Payback Personal Loan

Yes, Bank and NBFC will issue notice to you for not paying the EMI followed by filing suit for recovery of money. Upon obtaining decree they can go against your properties and attach them and also they can seek for your arrest.

When dues are not paid for more than 90 days. After this, bank will have to issue you a '60 day notice' under SARFAESI Act. In this notice period, the loan defaulter can payback the dues and close the case....

yes they can file a case for recovery and if cheques are there and bounce then criminal case u/s of*Phone*n.i. act

Yes Bank and NBFC will take a legal action against you if you not pay the EMI.

They can but first they will send you reminders and then legal notice but the calculation of interest amount will keep on escalating. Better you approach the Bank and get the Instalments re-scheduled, it may save the situation. Please give me Rank Five and follow me after reviewing my resume