Bank put cheque


i had availed cash credit limits from yes bank for rs.60 lacs and another temporary overdraft was given for rs20 lacs.totaling to rs 80.00 lacs advance. my account was turned NPA due to the market conditions there was an outstanding of Rs. 82,85,000/- the bank had taken undated blank cheques of cash credit account and my gurantor as security. the account was NPA on 1.9.2014 .the bank after filling the cheque of my gurantor of 82,85,000 presented the cheque in the gurrantors bank account on 15.10.2014.Subsequently filled my c/c account blank cheque and presented in the yes bank in my c/c account desipte my account being in operative due to NPA.The bank has issued 138 n.i act notice to both me and my gurrantor

1.Can they present the  gurrantors cheque without giving him any prior notice to him about presenting the cheque

2.Can the bank benefit itself twice by demanding the money from both the accounts

3.will 138 n.i attaract to these security cheques

4can the bank itself present the cheque in its own inoperative account knowlingly,mentioning as insufficent funds and finaaly issuing 138 N.i act notice.

please help immediately

 
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Advocate

After expiry of notice period the bank can file complaint in the court. On receipt of summon from the court, hire a competent lawyer who would defend you in the case as once it is proved a security cheque, you will be avacquitted.
 
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Advocate

After expiry of notice period the bank can file complaint in the court. On receipt of summon from the court, hire a competent lawyer who would defend you in the case as once it is proved a security cheque, you will be avacquitted.
 
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advocate.dma@gmail.com

What is the other security which Bank has taken from you like any property etc....??

 
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Yes the bank has my commercial shop mortgaged valued around 8 cr
 
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advocate.dma@gmail.com

Then nothing will happen to to you in cheque bounce case. But you have to ultimately pay with heavy interest as your property is stuck, why not settle and find a way..

 
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But the bank will put the case of 138 how to get out of it
 
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Advocate

Let them file the complaint u/section 138 NI act, if u defend your case u will succeed in 138 case. I
 
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advocate.dma@gmail.com

Adopt a simple method, which may (repeat may) help you out, once summoned tell the court that Bank is sitting on your security of Rs 8 Crore and arm twisting you by misusing the Blank cheque and no case is made out at the inception.

 

But as I told you earlier, nothing will happen to you under s.138, still Bank will take each and every penny due to this property security, so settle asap amicably with the Banks. 

 
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