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Bilal Akhthar (pharamcist )     11 April 2012

Personal loan

I had taken a personal loan from Barclay’s. At the time of taking the personal loan I had given 10 blank cheques as security and the EMI was to be debited to my account every month through ECS.

Barclay’s has recently deposited one of these blank cheques amount of 36,000 which got dishonoured. Now I have received summons from the Court. and appeared in court judge sent to mediation cell but bank peoples are not listening they want this 36,000 in lumsump and need to continue the rest of the EMI

Or else they will provide rest of the cheques

My problem is I have lots of financial crisis 

Please suggest me how I need to come out of this



Learning

 2 Replies

adv. rajeev ( rajoo ) (practicing advocate)     12 April 2012

It is better to go for compromise or one time settlement.

Ajit Singh Cheema (practising Advocate)     12 April 2012

It is advisable to get the account regularised / compromised,otherwise it may be dificult to face the music of section  138 of NI Act.


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