Legal Question in Banking Law in India

respected sir/madam

I have took a loan of Rs. 5 lakhs from PNB, in march-2004.

I purchased a commercial vehicle for self earning out of that loan amount.

but somehow, the manufacturer/dealer provide me a defected vehicle, since then vehicle was not plied on road. I have filed a civil suit in court , but since then the matter is pending in court. I have no earning from that vehicle, even then I have put 2.35 lakhs from my own resources. In 2006 bank moved my account into NPA. Since then they are forcing me to pay full balance amount with total 5 year interest up to march 2009, that is Rs 4.42 lakhs app. when I was unable to pay that amount they have filed a false case of cheaque bounce to me. Actually, bank took few blank security cheaques with them at the time of providing loan. At present I�m offering them OTA(one time settlement), but they are not compromising even after admitting that my problem is genuine and incidental. Kindly, suggest me remedies about cheaque bounce case and OTA with bank.

Naveen Verma

Shimla


Asked on 8/21/09, 12:52 pm

3 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

There is nothing much that can be done to help you. It may be better to pursue the matter with the bank and persuade them for a possible compromise.

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Answered on 8/21/09, 3:07 pm
KAMAL GROVER

First of all you have file the case for defects in vehicle, whereas the right remedy was consumer court and within few days your case would be finalized. But now you can defend the 138 case with the pleas that vehicle is not on road and it is not utilized and therefore, OTA application in the court of 138 should be accepted due to financial crises. The court will allow the applicaiton and you can get the relief.

Your further clarification is welcome at nominal fee at;

[email protected]

Advocate

M:09814110005

CHANDIGARH (INDIA)

We also have branches all over India.

With Regards

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Answered on 8/21/09, 11:15 pm
Pawan Jangid

You have not mentioned who are the party defendants in the civil suit filed by you. Bank should have been made a party to the suit. The proper remedy against defected vehicle was to file a complaint before local consumer forum.

You may consult with the lawyer handling your case to get the bank added in to array of defendents whereby you may get interim relief against bank's action in the matter.

You may offer OTS at court while defending your case u/s138. Besides, you may write a letter to bank giving details of your ongoing litigation and the dispute, requesting them to not to present the remaining security deposit cheques till disposal of litigations.

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Answered on 8/24/09, 5:03 am


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