Legal Question in Banking Law in India

sir ,

i had mail you last week about a loan that i hav with a private bank . the subject was my cheques are getting bounce for last six months , i lost my job and iam suffering to pay my daily expense.

last time you sujjest that ask the bank to cut my intrest and ask for time to pay the loan . but the authorities saying that there is no way to cut the remaining intrest and option for partial payment , it may transfer to court as cheque case

sir, the fact is that . i dont know when i et a job. and iam having other liabilites also .sir can i approach directly to the court for mercy to me

i have paid two year of my four year term an amount of 7000 can i ask it for a ten year term for the remaining 2 year

sir , please tell me if any order from any court ..for any relaxation like this case

please give me a sujjestion,,,


Asked on 10/08/09, 2:58 am

2 Answers from Attorneys
Seshadri Srinivasan www.lawconcern.com

Your query is incomplete because apparently you assume that all lawyers will know and remember your first query.

Put complete facts for an answer.

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Answered on 10/08/09, 6:55 am
J. Radhakrishnan independent Practice

If you are unable to pay your debt inspite of appeals to the bank to grant u time, you can apply for being adjudged as insolvent. But unfortunately there is no escape from prosecution for bounced cheques.

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Answered on 10/08/09, 2:18 pm


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