Loan matter

ASHUTOSH (Querist) 03 August 2015 This query is : Resolved
sir

i have a personalloan from fultron i am unable to give my emi i have not given any post dated cheques my emis are deducted from my salary account ,what step can they take against me can they register a criminal case ,what other steps they can take. What if i take out all the money from my salary account ,will a criminal case of 420, 406 ipc be filled against me because then fultron will not be able to deduct my emi if i take out all my money from my salary account.

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SAINATH DEVALLA (Expert) 03 August 2015
LOAN MATTER

Enjoying initially and repenting later for repayment.
At the time of obtaining loan along with the loan documents the said company would have certainly taken blank cheques from U.Settle the matter amicably instead of inviting the wrath of the collection agencies.

Guest (Expert) 03 August 2015
You have Not Stated any Of your Problems and Obviously it seems like a Query how Not To Pay.Better make your own Plans at your own Risk.

Rajendra K Goyal (Expert) 04 August 2015
Company gets enough security documents while giving loan. If they have not taken cheques, they must have taken guarantee / any other security from your employer and / or your friend. the outstanding can be claimed from them.

Criminal case can be registered provided the ingredients of crime exist.

It is advisable to arrange for the money and pay to escape from complications.

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