Legal Question in Criminal Law in India

Dear sir,

I am an employee of a gold loan company which works as per RBI guidelines. Sir, one of our customer's gold was auctioned due to non payment of interest as an NPA account, as she never paid her interest for 4month and after 3month of non payment become the NPA.

The company sent her letter of auction notice but she don't received the letter as she has changed the home. We contact her via phone and inform her for payment but she did'nt came .

Sir she come after auction and ask for her gold we informed her that company has auctioned her gold.

Now she has filled an FIR against all local staff by name under IPC 420, 406 & 34.

Now police is saying that non bailable warant will be issued and we will be arrested.

Kindly suggest what should we do.

And can we file a case against the lady as she has given our name in news papper also due to which we facing problem in society as public are asking as we have cheted the lady.

Please siggest.


Asked on 3/22/17, 6:21 pm

1 Answer from Attorneys
Vivek Mapara Vivek N. Mapara

Sir

Since the FIR is already registered against you, you need to first of all apply for Anticipatory Bail before the Sessions Court, so in any case you do not have to go to Jail.

Secondly, file a Quashing Petition in High Court for quashing of the FIR. I am certain High Court will entertain.

Since the account had been classified as NPA, you are entitled to enforce the security interest in the Secured Asset (Gold,herein ) under the SARFAESI Act, provided you company is duly registered and possesses necessary licenses under the Act. There is nothing like breach of trust etc. here to attract offence u/s 406, 420 of IPC

Should you need any assistance, then feel free to contact me.

Vivek N Mapara

www.vnmlaws.com

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Answered on 3/22/17, 11:57 pm


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