Legal Question in Banking Law in India

I was a corporate employee till Aug 2010 , Due to resession I lost my job . I had bank personal loans in my name . Till the time I had job , I used to repay the same on time . Now for last one year I am not able to pay the same. I am ready to repay the same immediately I gets a job . I have the informed the same to the bank executives over phone . Now This month July 2010 , I have recieved a summons saying:

" Where as your attendance is necessary to answer to a charge of (state shortly the offence charged)

U/S 138 of NI Act

You hereby required to appear in person (or by pleader (as the case may be) before (Magistrate) XV ACMM

of....16........ on the .......08........... day of 2010

Herein fail not.

Dated , this .......2........ day of ......7..... 2010

XV Addl. Chief Metro Politan Magistrate

Bangalore

What I need is only time till I get a job . What should I do . I dont have enough money to consult a advocate . Pls help me with an answer .


Asked on 7/23/10, 12:51 am

2 Answers from Attorneys

Hi,

the bank has filed a Complaint Case under Section 138 NI Act against you.

Such Complaint is filed on the event of Bounsing of Cheques issued by the issuer.

You must have issued post dated cheques to the bank. Now the cheques must have been bounced/ returned back by your bank, due to insufficient funds.

I think You will have to appear before the court on the mentioned date, go to the court with some surety. then submitt before the court what ever you want to submit.

I think You will have to engage a lawyer.

For clarifications you may contact us.

Jeevesh Mehta

09811617186

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Answered on 7/23/10, 1:29 am
J. Radhakrishnan independent Practice

If you don't appear on the hearing date, the court will issue warrant for your arrest. Arrange for some money and get the assistance of a lawyer to represent you. You can also approach the Legal Services Authority attached to Karnataka High court and seek free legal aid. you can find out the address from the High Court.

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Answered on 7/23/10, 7:41 pm


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