Sec-138. chq bounce ,loan emi

Querist : Anonymous (Querist) 28 October 2011 This query is : Resolved
one my friend took loan 97500/* hdfc bank (delhi). paid 6 emi of rs.3550 each .but not paid since 2 yrs.blank chq given to hdfc used for full loan amt.6 months bank chq bounced & this month police arrested and to the court,bailed him. hdfc were agree to settle the loan for rs.50000/-,but friend is not in position to pay as he is small vegetable shopkeeper ,even can not hire the advocate.but he can pay the 500/- to 1000/- pm max 1 yr. how i can help him.any case references. may all of u suugest me procedures in which i may help him.

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adv. rajeev ( rajoo ) (Expert) 28 October 2011
Let him discuss with the bank and for the first time let him pay Rs.10,000 or more than it. Bank may withdraw the case.

prabhakar singh (Expert) 28 October 2011
Amicable settlement is the only way out in your case.

Shailesh Kr. Shah (Expert) 28 October 2011
I also suggest you the same as Shri Prabhakar Singh.

ajay sethi (Expert) 28 October 2011
as against loan of 50,000 bank is settling for 50%. what moew do you want ? if you have taken home loan property must be mortgaged to bank .

bank will not agree to rs 1,000 a month installment . if you fail to pay bank will sell the property .

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Sec-138. chq bounce ,loan emi

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