Legal Question in Banking Law in India

Bounced checks

I took a personal loan from a private bank of Rs.70,000, on May/June08. But unfortunately the very next month I lost my job. And I could not repay my debt. I had given 5 blank checks to the bank, which no doubt has been bounced. Now I want to know what action can be taken by bank against me and what can I do to get rid of it. And please also let me know how to go for settlement?


Asked on 6/03/09, 9:19 pm

4 Answers from Attorneys
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Bounced checks

Bank can take action for recovery and also u/s 138 NI Act for chq dishonour.

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Answered on 6/04/09, 5:19 am
Pranav Desai PD Legal & Associates

Re: Bounced checks

Bank can file a case of cheque bouncing against you. However, for settlement is concerned bank would require you to pay atleast the principle.

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Answered on 6/04/09, 6:45 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Bounced checks

The bank may initiate civil / criminal action against you. It may be in your best interest to settle the matter amicably at the earliest to avoid unncessary litigation and expenses.

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Answered on 6/03/09, 10:30 pm
RAMAN KUMAR BHARDWAJ R.K. BHARDWAJ & ASSOCIATES

Re: Bounced checks

they can sue you under 138 NI act for dishonour of cheque. alternatively they can slo file a suit for recovery.

how ever i woud suggest you to resovle the matter amicably

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Answered on 6/04/09, 12:10 am


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