Legal Question in Banking Law in India

I did not pay the personal Loan amount of ICICI Bank of 40 Thousand. Is there any possibilities they should get Nonbailable warrent against me


Asked on 6/11/13, 2:10 am

2 Answers from Attorneys
J. Radhakrishnan independent Practice

As it is there is no question of filing a criminal case for default in repayment of the loan and getting any warrant bailable or non bailable. However if you given them any cheque, if bounced the payee can file a case under S.138 of the Negotiable Instruments Actt and therein if you fail to appear inspire of summons and bailable warrant then they can apply for issue of non bailable warrant.

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Answered on 6/11/13, 3:57 am
Fca Prashant Chavan Expert Edge LLP

11.06.2013

Dear Sir / Madam,

In the event you fail to repay the personal loan, the bank can move the Court to issue a non bailable warrant against you.

Regards,

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Answered on 6/11/13, 8:35 am


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