Legal Question in Banking Law in India

Re: blank cheque to people

This is not the stage to advice you.This is the time to act.Pls provide the documents and more details.

Re: blank cheque to people

It is unfortunate that you have been victim of such illegal racket. My suggestion is that still if it possible file a criminal case against such lenderunder sawakari banning legislation. If you can't file a criminal case or police complaint then file a civil suit challenging his payment . I fail to understand as to why people go for such illegal loans and that too give blank cheques . In case you donot file any appropriate proceedings you would be held responsible for Section 138 matter . Better file forthwith the matter with police and get the cheques in your custody if it is not possible go to civil court and file a suit seeking delcaration that the cheques may be encashed by such lender. You please ensure some legal remedy earliest to avoid further complications

Re: blank cheque to people

You are liable to pay the amount or else it may happen you may be charged under sec 138 of the NI Act as you have released a blank cheque. Or else you may contact them personally and get the installments for repayment of the loan.

Re: blank cheque to people

Sir

With due respect, this is the question that was required to be consiered by you while taking the loan and not at this stage. At the time of taking loan, and enjoying the money you do not realize any thing and now while facing its consequence you run pillar to post. This is required to be told since people blindly without taking legal advice enter into such onerous contract and when they get into the mess, then seek for legal advice.

Any ways your question herein cannot be answered spotly before making a conference and perusing the relevant case papers.

Re: blank cheque to people

probably you have acted without taking any advise.lender can misuse your cheques and can implicate you in criminal and civil prosecution.All details and documents are required to be examined to suggest any measure.There is nothing to get dishearted.In case of need contact with details.Professional charges are applicable.