Legal Question in Banking Law in India

Hi,

I lieu of my difficlut financial situation, I have been unable to honour the cheques, that I had given to a couple of banks, at the time of availing "Personal Loans".

Hence, before having stopped my payment, I have sent in a Legal Notice through my Lawyer not to present the Cheques that I had given as PDC (Post Dated Cheques) and have filed a Civil Suit in the Court of Law, requesting the support from Law ( I understand that Law is equal for every one) to save me from the stronger hands of the banks.

My case was also taken by the court and a petition to the effect that my family members or myself should be disturbed at my home has been issued.

My Queries are:

1. Can the Bank still deposit the Cheques, which I have already mentioned in the Notice and proceed to get a Sec.138 filed against me ?

2. What action can I take against the offenders, if they still intrude and create problems at my Home such as the Collection Agents.

Thanks

Anand Gopalakrishnan


Asked on 6/21/11, 12:21 pm

1 Answer from Attorneys
J. Radhakrishnan independent Practice

The court may prevent harassment by the lending Bank by way of personal threats. But the Bank can present the cheques and on return take Sec.138 N.I, Act Your stop payment when there are no sufficient funds in the account will be of no avail. Better approach the bank for an out of court settlement.

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Answered on 6/25/11, 9:04 pm


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