False Cheque bounce by finance company
Querist :
Anonymous
(Querist) 15 January 2019
This query is : Resolved
Hello sir, I had a excavator which was burned by miscreants on month of purchase due to which I could not pay any EMI. I registered fir and informed the finance company and insurance immediately. The all visited the incident site and took pictures of the burnt vehicle. The insurance company paid 20lac to finance company after 1 year even though it was a zero depreciation and special contingency insurance policy. I signed on the insurance payment voucher to release money to the finance company on verbal assurance by the manager of the finance company that they will give me noc.but 4 years have passed and still the finance company keeps bouncing ecs on my account. They even have made false arbitration case and cheque bounce case against me. I had appealed in consumer court from last 2 years but they dont send anyone to appear on case dates. What should I do now?
Isaac Gabriel
(Expert) 15 January 2019
The case is between the finance company and the insurance agency. If both have not appeared, plead the forum to decide ex-party and leave them to conduct the cheque bounce case as per their will and pleasure.
P. Venu
(Expert) 15 January 2019
The facts, as posted, lacks clarity. How is that 'cheque bounce' is an issue? What is the subject of arbitration? What is the relief sought from the Consumer Court?
Dr J C Vashista
(Expert) 17 January 2019
Vague facts and question of an anonymous author.
Consult a local prudent lawyer for better appreciation of facts/ documents, guidance and proceeding.
Querist :
Anonymous
(Querist) 17 January 2019
Hello P. Venus sir, actually the finance company had financed a amount of 22,70,000 rupees. But since the above said machine got burnt by bombardment within the first Month, I was unable to pay any installments but after running after the insurance company for 1 year they sent 20,40,000 in rtgs to the finance company but after that also the finance company keeps on bouncing ecs of 70,000 every month for last 4 years and sent me notice that I am not paying regular installments from last one year. While I haven't even paid a single installment. Whatever money they got was from the insurance company but they have divided the insurance money to monthly installments and showing that in my account. They had taken 9 blank cheques from me during the pre finance documentation. Now they are putting amount of 10 lac on it a d bouncing it. I have applied in district consumer court to help me get noc from the finance company which their manager had promised me if I sign on insurance payment voucher.
Querist :
Anonymous
(Querist) 18 January 2019
I put up the case in consumer court to get noc as the manager of the finance company had promised me that if I sign the insurance voucher of 20lac 40 thousand then they would settle my loan there only as the entire machine was burnt completely. I was not accepting the claim settlement offer amount of 20,40,000 as the machine cost is 28lacs. By accepting the insurance claim settlement offer of 20,40,000 I would had to face a loss of 5,60,000 in form of the down payment and the finance company would face a loss of 1,20,000. But after repeated pursuance by the manager of finance company to accept the insurance settlement offer, I accepted it and asked the insurance company to send it to the finance company through rtgs. But after getting The settlement money the manager stopped taking my call and all of their staff avoided me and even threatened me that I need to pay the rest amount or they would register a case against me. That's the reason I filed a consumer case against them. But now they have filed false arbitration case against me that I still use the above said machine and I am not paying the monthly installments and cheque bounce case against me. They are not even appearing in the consumer court. Please advice me on this.
Querist :
Anonymous
(Querist) 19 January 2019
Yes sir, I understand that I have done a very big mistake by signing that voucher. I will immediately file a case with the magistrate.
