Legal Question in Civil Rights Law in India

section 138b of NI Act

I have taken personal loan from a

private bank. I have been paying the

EMIs regularly for the last 5 years.

But due to financial problems my

cheques were bounced for the last 3

months. I am receiving Legal notices

from the bankers from their head

office. I have not replied to any of

the notice but I am replying them on

phone. So what is the possibility of

taking action against me. I am not

trying to evade their payments I am

only asking for some time. What are

the chances to obtain time from

bankers. Please help me.


Asked on 3/24/09, 7:51 am

2 Answers from Attorneys
Homi Maratha N.N. Maratha & Co.-Advocates

Re: section 138b of NI Act

Hello.

GOOD EVENING!

First of all never ever avoid the legal notices it can put you in trouble.

Secondly, I would advise you to clarify yourself by replying to the notices explaining the situation and arrange funds and start paying your one of the EMI's and that would be in your interest.

Avoid litigations and act sensibly.

IN CASE OF NEED PLEASE CONTACT PERSONALLY ALONGWITH THE DETAILS.

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Answered on 3/25/09, 7:12 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: section 138b of NI Act

You may gain some more time; it may be better for you to first reply to their notice and clarify your position. simultaneously, you should make some serious attempt to pay off your liability. the bank may agree to accommodate you if a serious and viable proposal is submitted by you; they may require you to clear at least one of the cheque amount bounced meanwhile;

You should consider avoiding litigation as may add up costs as well as your own expenses. The issue should be taken seriously instead of avoiding their notices.

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Answered on 3/24/09, 8:44 am


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