Dear Sir,
My son took education loan for about Rs 3 lacs in 2005. I was the
co-applicant for the loan. Bank took 2 blank cheques from the
guarantor before approving the loan.The loan was to be cleared within 3
years starting from 2007.My son could not get a proper job.He started
the repayment only from Jan 2008. He has been regularly paying to the bank an
amount varying from Rs 10,000 to Rs. 3000 ever since , till Feb 2012,
i.e. till date and has repaid Rs. 2.5 lacs.
In May 2011 the bank filled the blank cheque for Rs. 2.5 lacs and got
it bounced. In Dec 2011 the bank filed a case under section 138 read
with 141 and 142. A notice has been sent to my son only to this effect
and not to me as the co-applicant.
The bank complaint says "The complainant submits that in partial
discharge of accused's legal liability /debt issued the cheque in
favour of the complainant towards repayment of the loan amount. The
cheque was presented for realization of the accused bank.The same was
returned unpaid for reasons insufficient funds vide bank memo dated
Aug 2011. The aforesaid cheque (amount rs 2.5 lacs) drawn on UTI bank
was given to the complainant towards discharge and repayment of debt
legally due to the complainant."
Points to consider:
- My son and I never had any account in UTI bank.UTI has been taken
over by Axis bank some years ago.
-The guarantor gave 2 blank cheques.The cheque used by the bank for
the purpose of bouncing was one of these. About 7-8 years old UTI
cheque has been used.
The case is due to come up for hearing shortly.
I would deeply appreciate if you could kindly advise how to go about this case and what are the options to get out of this.
Best regards,
A Kumar
