Cheque bouncing
shankar
(Querist) 15 May 2012
This query is : Resolved
Dear Sir,
My sister in law, took loan of of 7 Lakh and issued chque of 7 lakh as security, on maturity date she fail to re-pay her loans so opposite party bounced..opposite party sent her legal notice.. but unfortunetly my sister in law is bankrupt she dont have anything..sold everything no house, no jewellary..no property on her name..she is working and earning only 8000/- per month..she is so depressed, she can do suicide any time.. but opposite party demanding money and and sent her legal notice..in this case..how opposite party will recover their money..what will be legal action..
ajay sethi
(Expert) 15 May 2012
Op will file case under section 138 N I act .if convicted magistrate can sentence her to jail and impose fine . in addition civil case for recovery of money may be filed .
she is not bankrupt if she is working and earning rs 8000 a month
Shonee Kapoor
(Expert) 15 May 2012
She can be sentenced to maximum punishment for failure to pay up.
No short cuts.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
SAINATH DEVALLA
(Expert) 16 May 2012
Dear Shankar,
When did she take the loan?Was she paying monthly emi's?What was the type of loan?Answer the above.Bankrupt,depressed,frustrated etc,don't count when a case of default and cheque bounce is filed.In addition to the above experts,go to the bank,put before ethe concerned authorites her case,and beg with them to consider with lenience.The loan must have already become NPA.Hence either go for a One time settlement or fight the case in the court of law.
