I have taken a loan in March 2008 from Kotak Bank. I became defaulter due to heavy Business After paying 12 months of EMI each 27320. In 2009 they obtained Arbitration award & in 2015 they filed EP in Madras court and I contested and the case was dismissed in 2016. At the time of Loan agreement, I have issued undated 4 cheques as Securities. In Jan 2018,they utilised one of the cheque for 1 EMI amount of 27320 and presented and dishonoured as the account closed. They know fully that the account was closed in April 2010 itself and mentioned in their statement also. Now deliberately they presented that cheque and filed a criminal case at Bangalore. Are they have any validity of filing under sec 138 now? kindly provide me with some points to contest and dismiss the case.
Focus on a permanent solution and avoid short cuts, never complicate the issue through dragging the same. Gone are the days of understanding the difficulties of genuine default and fake. Though SC Judgment states that business losses and inability to repay borrowing are not a criminal offense, you have to fight it out for establishing your bonafides.