Legal Question in Credit and Debt Law in India

Respected sir,

I was given a cheque of 450000 to one person but it was not clear due to insufficient balance. Now the problem is they case on me as per 138 . Today I can not pay that amount because my salary is 25000 & my mortgage loan instalment amount is 25700 per month to the bank. So now what can I do ?


Asked on 3/26/16, 1:54 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

26.03.2016

Dear Sir / Madam,

You should reply to the legal notice and try to negotiate a repayment settlement with the person to whom you have issued the cheque which has bounced due to insufficient funds, and let the law take its course.

Regards,

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Answered on 3/26/16, 3:47 am


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