Default personal loan and cheque bouncing
Tim
(Querist) 17 February 2013
This query is : Resolved
Hello, I had taken a personal loan from 2 banks in India but have defaulted on payments for last 3 years due to financial hardships. I have moved out of India for last 3 years and have received numerous communications including notice of filing a case in court through emails. My question is if the banks do not know my whereabouts can they still file a case under NI (Section 138 I think)in court for cheque bouncing ( I have issued them cheques as security at the time of issuance of personal loan)? No one known to me lives at the address which is with the banks and I am sure they would not have accepted the registered notices sent at that address as they do not know me and vice-versa. In such a case even the summons will be returned so can the banks still file a criminal case against me under NI act? Please advise.
V R SHROFF
(Expert) 17 February 2013
The Bank can send you notice at your last known address, and declare you "ABSCONDER"
ajay sethi
(Expert) 17 February 2013
why dont you clear the bank dues? if you have the funds pay the bank
Devajyoti Barman
(Expert) 17 February 2013
To file a case the accused need not be present in country.
Do not take these cases so lightly.
After issuance of warrant of arrest of it surfaced that you have left India then Red Corner Notice may be issued and you may be apprehended from any airport you happen to land in future.
Raj Kumar Makkad
(Expert) 19 February 2013
I do agree with the advice of Barman.
Tim
(Querist) 22 February 2013
But do you think for a personal loan of 2 Lakhs and 2.5 Lakhs they will issue red corner? Also I have paid for some months but due to financial constraint cant pay now. Just curious. Thanks for your help.
prabhakar singh
(Expert) 22 February 2013
The advise is right.Only they better know they shall act so or not.
