IBC Code: Complete Overview and Drafting Workshop. Register Now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Advocate Abhijeet singh (ADVOCATE)     19 January 2023

Loan from nbfc

respected sir , good evening My question is: 1. That my client borrowed loan from one company i.e. Shri ram finance on dated 18.9.17 for amount Rs. _______ and will pay in 47 instalments for Rs. 61354 per month. 2. My client paid 513017 as principal and 285169 as interest total 798,186. 3. Due to financial crisis my client stopped to pay instalment and after some time in the month of February 2019 finance company claimed 1***************0/- through cheque that already deposited in company at the time of loan. filed complaint case under section 138 Ni ACT . 4. That after filed the complaint company repo the vehicle and sold the vehicle . 5. Now we are defending the NI act case as accused and GPA holder of company filed his affidavit and Statement of accounts and in his statement of accounts the total outstanding till re possession the vehilce 2396161and less sale value of vehicle 1**********= 1395161 and add interest @ 3% per month for till today that is 1188678 and total outstanding till today IS 2583,839. my question is that : is cheque in question valid for 138 ni act . s

Read more at: https://www.lawyersclubindia.com/experts/ask_query.asp


 2 Replies

Sudhir Kumar, Advocate (Advocate)     20 January 2023

My doubt.


Has the loaner claimed more than due.

Real Soul.... (LEGAL)     20 January 2023

Yes the case under NI Act is due to frame as the instrument i.e cheque  is   with the company. now you have chance to prove that the cheque amount is already paid partly, you are in court so you have chances to get amount adjusted and seek a fair trail to make your paid amount deducted. just get some good lawyer who can get the best out in disguise. 

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Post a Suggestion for LCI Team
Post a Legal Query