Legal Question in Banking Law in India
Can a bank issue non-bailable arrest warrant against a credit card defaulter? In such a case, what should a deafaulter do when he is ready to settle the outstanding? Can non-payment of credit card dues be construed as a crime under IPC?
Asked on 10/20/10, 1:31 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
The answer is no, Unless the bank filed a cheque dishonour case and the drawer accused did not appear inspite of summons and bailable warrants. The defaulter can approach the bank at all times for an out of court and in court settlement.
Answered on 10/20/10, 7:52 pm
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