138
Querist :
Anonymous
(Querist) 04 August 2011
This query is : Resolved
it is related to my husband , he was working with a bank in india as a DSA IN 2008 . that time he got loss in business of near about 20 lac . he covered 10 lac from his pocket but rest amount is still balance. that was partnership firm . another partner of my husband is not supporting him. now we are in gulf and bank people are calling us again and again for rest amount but we don’t have. he want to come india. it is possible they can create any problem if he will come to india ? . what we have to do next ? my husbands blank cheque is also with there with bank.
adv. rajeev ( rajoo )
(Expert) 04 August 2011
Nothing will happen to him. If bank wants to take any criminal action against your husband u/s 138 of NI Act all the partners of the firm will be the party to the case. Your husband's another partner will also be held responsible.
M/s. Y-not legal services
(Expert) 04 August 2011
Yes.. If the bank initiate cheque case against your husband mean you can face it. No problem
Raj Kumar Makkad
(Expert) 04 August 2011
You should come and discuss your problem with bank authorities and should offer to sale the mortgaged property if another partner is not ready to re-pay his share of loan amount. One time settlement may be made which shall be beneficial for you.
Advocate Rajkumarlaxman
(Expert) 04 August 2011
As our expert states need not worry. and OTS is the best remedy and if cheque gets bounced also there is process of issuing notice then filing case under 138 and then isuue of warrant. you can still come and talk to the bank authorities as stated by our expert.
prabhakar singh
(Expert) 04 August 2011
Agreed with Expert Raj kumar makkad .
Sankaranarayanan
(Expert) 04 August 2011
yes mr rajkumar's version is correct.
What ever it is , may be prob with another partner, but as per the law if the firm is liable then indirectly the partners are liable. Hence better way is meet or approach the concern bank responsible officer and explain the facts.
More over your husband is liable as his ratio of share in the partnership deed
Sankaranarayanan
(Expert) 04 August 2011
yes mr rajkumar's version is correct.
What ever it is , may be prob with another partner, but as per the law if the firm is liable then indirectly the partners are liable. Hence better way is meet or approach the concern bank responsible officer and explain the facts.
More over your husband is liable as his ratio of share in the partnership deed
Sankaranarayanan
(Expert) 04 August 2011
yes mr rajkumar's version is correct.
What ever it is , may be prob with another partner, but as per the law if the firm is liable then indirectly the partners are liable. Hence better way is meet or approach the concern bank responsible officer and explain the facts.
More over your husband is liable as his ratio of share in the partnership deed
Sankaranarayanan
(Expert) 04 August 2011
yes mr rajkumar's version is correct.
What ever it is , may be prob with another partner, but as per the law if the firm is liable then indirectly the partners are liable. Hence better way is meet or approach the concern bank responsible officer and explain the facts.
More over your husband is liable as his ratio of share in the partnership deed
Sankaranarayanan
(Expert) 04 August 2011
yes mr rajkumar's version is correct.
What ever it is , may be prob with another partner, but as per the law if the firm is liable then indirectly the partners are liable. Hence better way is meet or approach the concern bank responsible officer and explain the facts.
More over your husband is liable as his ratio of share in the partnership deed
girish shringi
(Expert) 04 August 2011
I am agree with the experts which includes one time settlement is o.k..
However under what circumstance the loss incurred as DSA of the Bank and the same banker possess the cheque,then there is better remedy for your husband because many bankers are misguiding the DSAs and exploit their capacity,be clear about all the points.
Girish Shringi
(Advocate)
girish shringi
(Expert) 04 August 2011
I am agree with the experts which includes one time settlement is o.k..
However under what circumstance the loss incurred as DSA of the Bank and the same banker possess the cheque,then there is better remedy for your husband because many bankers are misguiding the DSAs and exploit their capacity,be clear about all the points.
Girish Shringi
(Advocate)
Querist :
Anonymous
(Querist) 06 August 2011
Thanks to all for ur reply,
Mr.raj kumar makkad, there is no any property involve in that case. this is loss in business.
Mr.Girish shringi , the point u r asking me is that , my husband was working with HDFC Bank as a DSA in 2008 . he was giving business to bank and bank was paying him 5% on that every month. eg: 50 lac business 5% will b 2.5 lac , suddenly due to market crash bank reduce that 5% to 1% , that time my husband had more the 20 staff and other expanses also , so he started making loss . after that he decide to close the DSA. Then he found that more then 20 lac he have to pay to bank. he covered near about 10 lac from his saving. and now we r in UAE , we r trying to settle here my husband is doing Job. We don’t have money to close that amount and they r calling us again and again from Delhi for the money. My husband’s partner also residing in Delhi but they are not following him. Suggest me what we need to do??
Nagesh Rudrakanthwar
(Expert) 06 August 2011
Try to initiate for one time settlement with bank. if bank initiate u/s 138, then all the partners will be personally & jointly liable for the repayment of loan so you don't need to worry about it.
