Warrant for non repayment

Shikhar soni (Querist) 25 September 2023 This query is : Resolved
Hello Sir,
I have taken loan from an NBFC bank i was on time but due to some financial loss i wasn't able to make the payment for 3-4 month then they send me one summon but i was not able to present on the given date now as i can check on the ecourt website So Case stage shows as E/R of Warrant. What does this mean is it bailable or not?
What to do next?
I live in delhi but case file in kolkata
I am really in a panic situation not able to find any other why, Please Please Please help me out.

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Quick Summary

If you've received a warrant for non-repayment of an NBFC loan, it's likely related to a bounced cheque under Section 138 of the NI Act, even if you took the loan online. The 'E/R of Warrant' status on the ecourt website indicates a bailable warrant has been issued. You must appear in court with an advocate to recall the warrant and obtain bail, usually by providing a surety bond. It's crucial to address this promptly to avoid arrest and potentially settle the matter amicably with the NBFC.

Sudhir Kumar, Advocate (Expert) 25 September 2023
it may be bailable or even non-bailable.

Shikhar soni (Querist) 25 September 2023
It is maybe bailable because i have received only one summon

SIVARAMAPRASAD KAPPAGANTU (Expert) 25 September 2023
What was the nature of case filed against you? Financial institutions including the NBFCs file civil suit for recovery of their dues from the borrowers, where question of Warrant and arrest does not arise. However, if you had given them any cheque for repayment of the instalment and such cheque bounced for want of balance, maybe they have filed a criminal case also under Section 138 of NI Act. You may show the related papers to an Advocate and get further guidance in the matter. It is advisable to approach NBFC with your proposal to clear the amount within a time frame and get the matter settled amicably.

T. Kalaiselvan, Advocate (Expert) 25 September 2023
You are hiding the facts and asking the clarification on the basis of some blunt and improper information.
Warrant can be issued only in the cheque bounce summary trial proceedings.
This means that it is pertaining to a cheque bounce case filed against you.
Before filing a cheque bounce case, it is essential that they issue a legal notice demanding the payment of the cheque amount.
Thus due to default in loan repayment the NBFC has initiated recovery action by depositing the security cheque which was not honored by bank due to insufficient funds and was returned.
On that basis the bounced cheque a notice was served on you, which even after receiving, you failed to respond or gave a reply notice.
Subsequently the complainant has filed the cheque bounce case against you under section 138 NI act, wherein even after receiving the summons you did not take care to appear before court and express your objection or your desire to settle the matter.
Therefore the trial court has rightly passed an order to execute a bailable warrant against you.
Now you have to appear before court accompanied by an advocate, recall the warrant following the procedures of law and then start participating in the trial proceedings regularly henceforth, if you want to avoid being arrested,.

Shikhar soni (Querist) 25 September 2023
I had taken this loan online i haven't given any cheque, also i have talked with almost 50-60 lawyer in last 3-4 day and everyone saying different thing, some says this is a arrest warrant some says this is bailable warrant, some says this is nothing serious you dont have to do anything, some says go to Kolkata and take bail even some says we will get you bail on video call.

Like this is really confusing whome to believe and whats the right way.

T. Kalaiselvan, Advocate (Expert) 26 September 2023
There is no point in telling that you met 50 to 60 lawyers in 3 to 4 days in the past.
In fact it will not be possible for you to meet so many lawyers within this short span of time.
You are still not coming out with facts, hence you appear to not to deserve any legal opinion because you appear not to be true with your contention while seeking legal opinion, and also it seems that you are posting some hypothetical questions for the reasons known to you.

Shikhar soni (Querist) 26 September 2023
Sir i never said i had met 50-60 lawyers.I just said i have talked with 50-60 lawyers in 3-4 days over call and over WhatsApp. Please dont take me wrong.

T. Kalaiselvan, Advocate (Expert) 26 September 2023
Even talking to 50 to 60 days over phone will not be possible in the short span of 3 to 4 days, however even if you talk to more than 100 lawyers you will not get clarity if your are not coming out with facts.
If you really face problems then you will be serious and honest with your issues and will not have time to manipulate your situation to your convenience.

Pradipta Nath (Expert) 28 September 2023
Its a bailable warrant. You need to come physically in the court, surrender your self and then will have to obtain bail. Normally court will give you bail and will ask to tender a surety bond.

P. Venu (Expert) 28 September 2023
You are yet to post the material facts. Which Court has served you the warrant? Which is the Case No.?

Rajesh Tandon (Expert) 30 November 2023
Hello, the facts are not absolutely clear and so I'll provide a generalized response as to the remedies and rights available to you under law.

Firstly, if you took a loan against some security, then the NBFC may proceed to sell the pledged security. However, you are entitled to following safeguards.

A loan becomes an NPA if the borrower fails to repay for 90 days. In such cases, the lender must first issue a 60-day notice to the borrower. If the borrower fails to repay within the notice period, the lender can sell the borrower's assets to recover the loan amount.

However, just because a borrower is unable to repay a loan does not mean that they have committed a crime. The Supreme Court of India, in SatishchandraRatanlal Shah v. State of Gujarat, has held that a criminal prosecution for cheating can only be initiated if the borrower had a fraudulent or dishonest intention from the very beginning.

In other words, if the borrower borrowed the money with the intention of not repaying it, then they may be guilty of cheating. However, if the borrower simply became unable to repay the loan due to unforeseen circumstances, then they cannot be prosecuted for cheating.

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