Legal Question in Criminal Law in India

I am having a personal loan with ABN AMRO bank. Out of 60 EMIs, I have paid 17 so far. Now , I am not in a position to continue payong rest of the EMIs. I have told them to restructure the PL by converting the principal amount to EMIs which would be easier for me to pay. but they are not willing to do so as I have not missed a single EMIs so far. What would be the consequence if I stop paying EMIs from the next month ? Can they charge me against section 138 and 420 ? I am from Kolkata.


Asked on 3/11/10, 1:30 am

1 Answer from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Yes, they can take action under 138 if your cheque is bounced. Try to reach an amicable out of court settlement on mutually agreeable terms. The consequences would be adverse and may also add you costs.

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Answered on 3/12/10, 6:10 am


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