Bank loan
emveeemvee
(Querist) 29 October 2010
This query is : Resolved
Dear Sirs
“A “ and “B” had a bank a loan in the year 2004 for that “B” security was given to ” A” ,because “B” Does not have any in come proof so “ A” availed the loan from the bank as third party security “CC “ Account loan from this loan both “ A “ and “ B “ Shared the amount 50% each with an internal agreement of paying the Principle and the Interest ,from the beginning “B” did not pay any interest ,but “A “ was paying his portion and also for “B” to the bank . at one stage “ A” was not able to pay the dues to the bank , due to his Business loss .For that the bank mentioned :”A “ account as NPA account and filed a case in DRT Court and went for further proceedings .Now “ B “ launched a complaint in police that “A “ has to pay All interests and his principle .And also misusing “A“s cheque given in the yr - 2004 with 138 proceedings by warrant with the help of the police “ B “ is threatening “A “ to pay the entire amount Immediately .
1 . How can “A “ pay the entire amount to “ B “ ?
2 . Can the police threaten while the case is going on DRT ?
3. With the help of internal agreement can “ A “ collect the interest from “ B” which was not paid from the beginning ?
4 . did the police has rights to force “ A “ to pay the amount to “ B” while the case is going with DRT ?
WHAT ARE THE DEFENCIVE PROCEDURES SHOULD “A ‘ HAS TO TAKE ? FROM BOTH “ B “ AND POLICE ?? AND FUTURE ?
KINDLY SUGGEST !!
adv. rajeev ( rajoo )
(Expert) 29 October 2010
It is pure civil case police have not work to do, however they are police they can do anything.
If B has file a NI Act case , he has to prove that there was a legally payable debt by A to him.. You have said that cheque was issued in the year 2004 by A , it has to be proved by A.
And regarding the agreement between A and B requires written agreement.In absence of written agreement A cannot do anything to collect the interest from B.
Devajyoti Barman
(Expert) 29 October 2010
Your query is silent on the most important aspects. Clarify first-
1. In whose name the loan was disbursed?
2. Was there any written agreement between A and B. If not, then was there anybody who was witness to such understanding?
3. If both A and B was agreed to share the burden of repayment then why A kept silence in all these months?
4. If A continued to make the repayments then why he deposited the cheques with B?
5. Was there any proof that A asked the B to bear his share of burden or asked him to reimburse.
On clarification of these aspects further advice could be given.
pawan sharma
(Expert) 29 October 2010
I have same view on this point.
