Legal Question in Civil Rights Law in India

to start my business i approached a financier and too a hand loan of 1lakh @ 14% interest as i was very badly needed that money. To repay that money he asked to sign two chits and i did the same as i was not having any other option and later he opened a new bank account on my name and took the passbook and the cheque book with him and recently i got to know that he dint pay the monthly instalments and the chits were worth 10laks now i have become a defaulter. A warrent has been issued on my name and my and one of the other gaurentors house articals are under lock and key. I want to pay the amount and till now i paid 6laks and i just need some time to repy the amount as i lost my job and from 8months i'm not earning. Please suggest me whom i should approach and how i can take an action on the financer and that bank in which i opened the account are not ready to give me the statement as that statement is a major evidence.. I'm that rich to spend money the way this financer is spending. Whom i should approach.. Even the lawyers whom i'm approaching are just charging me money and working for othe till now i have spent near about a lakh of rupees on my lawyer fee but still the situation are getting more amore worst and just leaving me in mental truma. Please help me.

Asked on 10/13/09, 3:56 pm

Seshadri Srinivasan www.lawconcern.com

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You have to collect the evidence and take appropriate legal action for the chits not owed by you.

Answered on 10/13/09, 9:19 pm

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