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

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

ajay kumar (unemop)     07 July 2008

U/S 420,406 IPC

i need your help in this matter.
i am using some cards of many banks from last 4-5 years, I had made all my payments on time but due to some dispute in some cards
and sudden financial crisis i not able to make payment since last 1-2 years against my credit card accounts.....now bank has filed criminal cases u/s 420,406 ipc.

When I spoke to the bank they siad that I have given false documents for Credit Card Applicaiton......sir let me know that if the documents were forged then how could have bank have issued me the card and why till last year when they were receiving the payments I was not a fraud.

Is the bank doing right ,what remedy do i have

please help me out sir


 8 Replies

podicheti.srinivas (advocate/legal consultant)     07 July 2008

At the time of applying for a credit card you have not stated what are the documents you have submitted to the bank  whether they are original or fabricated by you.Assuming for a moment that you have produced a fake  salary certificate to the bank for obtaining the credit card ,believing on the above said information the bank had issued a credit card . that itself will amount to cheating ,believing your documents the bank had issued the card and you have used the same and not repaid the same.on verification the bank came to know that the documents submitted to them are fake .then the bank is at liberty to file a case against you  as and when they have knowledge.

ajay kumar (unemop)     07 July 2008

sir, when i give docs to bank i think bank  verifying every thing address provide by applicant for all loan products "credit card,personal loan, car loan and home loan".if bank issue me card that time so why they file case under this section.

K.C.Suresh (Advocate)     11 July 2008

Acts which are offences may not come out as any body wish. It is being caught from the traces left by the offender. You have perfect till the transactions are well and good. But when it was strange the bank noted the manipulation and coming after you. It is not necessary to identify the fruad at the early statge. Or it is not necessary to ask why the bank didnot trace the fraud. Settle the issue and get free with the banks consent before the things draged to court. Adv.K.C.Suresh, Kerala

lawyers friend (na)     11 July 2008

this is big problem???

ajay kumar (unemop)     11 July 2008

sir i try to settle my account with bank ,i told him please satel and give me some time or convert my card dues in pl and i will pay emi on time.but they want all money in one shoot and i have no money as such.what i do sir.

Kumar Arvind (The Law Consulting)     12 July 2008

I think its an very common case in the present scenario. So friend do panic, just try to settle the amount as early as possible. It is also to be noted that bank can't sue you more than the money you have utilised. I have seen many case where the bank has agreed to settle the amount in just50% of total amount.

Kumar Arvind

L.L.B IInd Yr. Student

mail me at k.arvind1981@gmail.com


ajay kumar (unemop)     12 July 2008

no money to pay sir,even if i go for a lawyer i need to borrow money from my friend /relatives to pay banks.sir already told bank managers to make emi of settle amount for 4-5 years then i try pay that money to bank,but they want all money in one shoot.what i do sir what is best possible solution for me.


Guest (n/a)     12 July 2008


As you have stated that you are already agreed to pay amount as per your convenience. So if the bank proceed further with the case in court, Judge will also order the bank to realise the money from you as per your convenience. So dont panic dear, just relax  yourself first, then try to settle the case in a cool manner.

Kumar Arvind

L.L.B IInd Yr. Student

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