Pl loan
GURVINDER SACHDEV
(Querist) 16 November 2011
This query is : Resolved
Sirs,
i have been paying my o/s pl emi's and also in some cases i have settled the amount and in some case i have the settlement letter and i have paid half the amount against the same and the validity / date of last pmt to be made passed and i asked for extension for repaying the amount as per settlement
Now what has happened is the banks have been taking money against the settlement letter and they have filed a suit in some courts for recovery aginst bounced Security PDC and they have not informed the court that we have reached a settlement and pmts have also been recd and the court have issued NBW aginst the suit filed for recovery under section 138
1) what do i do in such a case where i have made pmts and still NBW have been issued without my knowledge of any such court proceeding having been initiated
2) How do i get the NBW quashed
3) do i have to appear before the judge and get bail
4) what if i have been declared PO what is to be done in that case
5)is the Bank being fair by taking money and not getting the court proceedings if initiated stopped / quashed
pls advise and HELP
regds
gurvinder sachdev
0
ajay sethi
(Expert) 16 November 2011
the objective of the bank is to see that you do not default in making payment under the settlement .
1) nBW has been issued as you have not been attending courts regularly .
2) you appear before the court and make an application for stay of the NBW.
3) you cna in your application draw attention of the court to fact that you are settling with bank and have made substantial payments
4) the fact of the matter is when you reached a settlement with the bank you should have insisted they withdraw cheque bouncing cases. you can request bank that a s you are making payment to withdraw pending cases as soon as full payment is received
Rajeev Kumar
(Expert) 16 November 2011
Mr.Ajay has well explained your query
Sailesh Kumar Shah
(Expert) 17 November 2011
No reason to differ with view expressed by Mr. Sethi.
Shonee Kapoor
(Expert) 17 November 2011
No reason to differ
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
GURVINDER SACHDEV
(Querist) 17 November 2011
sir i have never been informed about any legal proceedings initiated or matter in court by any bank or their lawyers straight u have somebody literally popping up with a piece of paper which he claims to be a NBW so attending or avoiding court does not arise and when u ask the collection agents of banks about any court proceedings they express ignorance and whilst giving the settlement letter they just assure that in case if any suit has been filed it would be set aside once payment starts or is recd as per settlement letter ,
I would like to know is harsh collection permitted or such an hidden action justifiable pls advise
regds and thanks to all GOD BLESS ALL
gurvinder sachdev
Devajyoti Barman
(Expert) 19 November 2011
What is the court case? Please give details to advise future course of action.
GURVINDER SACHDEV
(Querist) 22 November 2011
the court case is citibank has filed a recovery suit against bounced Security chq of Rs 28923/- being 03 emi of Rs 9641/- they have recd pmt of the same on 20/06/2011 suit filed in april 2011 , they recd the pmt when they gave the settlement letter on same date i gave them a chq of above amount along with the balance amount as per settlement letter ,
they did not inform the court about the recpt of pmt nor about the settlement letter and the court as per proceedure went ahead and has issued a NBW for appearance on 01/12/2011
I have paid Rs 100820/- against settlement amount of Rs 200000/- although the date for final pmt was 31/10/2011 i did ask them to extend the date of repayment but no reply as on date and all of a sudden this NBW comes up
pls advise
regds
gurvinder sachdev
ajay sethi
(Expert) 22 November 2011
you make an application for stay of NBW .
you produce the letter issued by citibank wherei n they have accepted payment in full and final settlement . citibank will have to reply t your application for stay
citbank will be called upon to explain as to whether in view of settlement arrived at complaint should not be dismissed .
