Legal Question in Credit and Debt Law in India
When a sec.138 has been layed on a defaulter, can it be given a warrant or can a summon be issued. If the defaulter goes for a Civil Suit, what are the consequences to the bank. Also, if a civil suit is filed prior to the bank bouncing the security cheque by the bank, does the customer have a higher hand over the bank. In such a case how can the bank recover from the customer.
Asked on 10/01/09, 1:20 am
1 Answer from Attorneys
Seshadri Srinivasan
www.lawconcern.com
If a civil suit is filed much before cheque presentation and thereafter Civil Court want to decide on liability extent etc.. then the borrower has a decent chance of success.
Answered on 10/01/09, 3:26 am
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