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Loan from cooperative society (Others)

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This query is : Resolved


Author : RAMESH SEHGAL

Posted On 05 July 2012 at 10:44

I have taken a loan from cooperative society. As security of payment of installments I have given three/four cheques duly signed by me and society's name written as payee. No date and amount was mentioned by me. Now owing to some financial problems, some monthly instalments were pending. The secretary of the society has filled up the date and total outstanding liability after three years of my giving the afore stated cheques and after presenting the cheque for payment and on dis-honour of the cheque, the secretary of the society has filed a cheque bouncing case charging exorbitant rate of interest of 20%pa. Kindly advise me the defence in the above stated case. I will be highly obliged for getting guidance for my defence in the court case.
Thanks.
Ramesh Sehgal
91-9990217028
sehgal_ramesh@yahoo.com




Expert : ajay sethi

Posted On 05 July 2012 at 12:32

1)have you replied to leagl notice ?

2) did you in reply mention that date , amounts filled in .that it amounts to material alteration of cheque

3) no interest rate was agreed upon

4)contact a local lawyer.


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