1 court may order for attachment of your property equivalent to the current value of the loan.
2 in case a cheating case is also added in the complaint you may be penalized with some nominal amount and may be few months of imprisonment if the company put to loss heavily.
3 there is a very chance that your name may be published in the on line job portals and what will happen after this you know better, and believe that you will not post a new threat for seeking the same.
4 you may be denied by obtaining any passport as you are involved in a money fraud case, and case under mis trust and cheating. Therefore you may not be able to avail any offer from abroad.
INSTEAD OF ALL THESE SIR, let us understand a small aspect: when you have availed a loan of reasonably good amount, is it not your moral responsibility to repay it? if i have to ask you since 2009 (year of loan taken as per your posting) did you made any attempt to repay the same or communicated your repayment schedule to the company?? your answer to these questions will guide you to the proper method.
Reply back to the advocate with a proposal of repayment and if you are not in a position to repay propose a request to give you some time to repay. Trying to avoid the entire payment may give you a short term relief but in long run it will definitely have its effect on you and your carrier and definitely on your family. Hope you will avoid troubling you and your family and if you wish to have any further guidance in this regard you may post your issue on to Home >> or mail me @ or even can call me on 9010352384.
2nd September 2013 From India, Hyderabad