Legal Question in Banking Law in India

Hello sir, i need help. my father take money from 10 to 15 person in india all money they given in cash to my father and my father give all those people blank cheque as a safety from his personal saving account.. now we have property to sold out and pay all debut of my father to all those people. until property sold out if any one put cheque in bank and bounce so what kind action we have to take before. the property which we want to sold out its on my mother name so can court can put stay on that property bcz its on my mother name. we want to pay all those debt but untill property sold out. so please advise me what can we do if legal matter will happen?

Asked on 9/04/13, 1:33 am

5 Answers from Attorneys

Muhammed Rafeeque VLegal

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there is a chance of preventing you from selling the property. In such cases, you will get notice from the court. If you get notice, appear before the court and give an undertaking that the property is being sold to repay the debt only. Courts normally permit the sale in such cases.

Answered on 9/04/13, 3:28 am

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KarVai Legal Solutions Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in

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you may defend the legal suits.

Thanks and Regards

Adv. Rajiv

Answered on 9/04/13, 8:53 am

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Fca Prashant Chavan Expert Edge LLP

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04.09.2013

Dear Sir / Madam,

Ascertain and determine the total debt that your father has run into. Ask each cash lender to produce the agreement copy signed by your father that he owes them money. Without there being a written Agreement signed by your father in the presence of two witnesses that he has actually taken the money, all these are "bogus". Tomorrow after paying these 10 to 15 people, another 50 may claim money from you saying that your father owed them money. Tell them upfront, we'll settle the matter in the Police station.

Regards,

Answered on 9/04/13, 9:56 am

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