Legality
Guest
(Querist) 13 March 2014
This query is : Resolved
when a person takes loan, normally he is required to deposit blank signed cheques as a security with the party from whom he has taken loan. In a case, the instalment was not paid by that person. The party, which gave loan filled up one of the blank signed cheques, which got bounced. The party issued notice under 138 of negotiable ins. act.
The person objected that such notice has no legal force as same was given as blank cheque and not cheque of instalment.
Please opine.
Devajyoti Barman
(Expert) 13 March 2014
Such defence has no force.
It was given to discharge the debt which is legally enforecable against him.
Guest
(Expert) 13 March 2014
Academic query!
How you are concerned with the person, who took loan, and also the person who objected?
Raj Kumar Makkad
(Expert) 13 March 2014
The question raised by Ld. Dhingra is crucial in the given case.
R.K Nanda
(Expert) 13 March 2014
academic query.
Guest
(Querist) 13 March 2014
I HAVE GOT REPLY FROM SHRI BARMAN FOR WHICH I EXPRESS MY HEARTFUL THANKS.
AS REGARDS OTHER EXPERTS, I DO NOT KNOW WHY QUERY IS ACADEMIC FOR THEM. THE OBVIOUS REASON APPEARS TO BE THAT EXPERTS MAY NOT HAVE COME ACROSS THE SITUATION MENTIONED IN THE QUERY. THEY MAY NOT ATTEND TO THIS QUERY FOR REPLY PURPOSE BUT I WOULD SUGGEST THAT APPLYING MIND TO THIS PRACTICAL SITUATION ON THEIR PART WOULD DEFINITELY ADD TO THEIR LEGAL PROWESS.
ANY WAY, MY THANKS TO OTHER EXPERTS ALSO.
Dr J C Vashista
(Expert) 14 March 2014
Mr. Sandeep Kumar,
Heart of hearts you know very well that the query posted by you is purely academic, even then asking the same from the experts?
Kindly avoid
Guest
(Querist) 14 March 2014
Dr. Vashista Ji, it is unfortunate that a practical problem being faced is being termed as Academic Query. If you do not want to share your opinion on the issue, you have every right to do so, but I do not think it is right to resolve the query by calling it as ACADEMIC.
I HUMBLY REQUEST YOU TELL FOR WHAT REASON YOU CALL THIS QUERY AS ACADEMIC.
R.V.RAO
(Expert) 14 March 2014
sri barman ji is right.when you offered as the borrower a blank cheque and then defaulted,why blame lender who presented the cheque to meet your emi/loan instalments.
borrower liable under NI ACT sec 138.
iam aware lenders taking undated cheques towards total loan amount for entire loan also .but they say it is security cheque.i nver come across where lender presents security cheque.may be different circumstances.
Guest
(Querist) 14 March 2014
THANKS FOR ADVICE RAO JI.
DR.VEDULA GOPINATH
(Expert) 14 March 2014
I am of the considesred opinion that in case of private borrowers there is oppression, undue influence, duress and other unfair and illegal means by taking blank sheet signatures and blank cheque signatures.
If evidence is created and established, THERE WOULD BE A PENAL ACTION AGAINST LENDER.
I can very well appreciate that borrower money and his position should be secsured for due repayment of the loan. At the same time equity demands that borrower should not be handled with undue influence and taking advantage of his weak position in gthe case of financial position.
Further, there have been cases of illegal criminal action by the lenders against borrowers families and children which is very barbarious and brutal and most uncivilised in the present modern sociesty.
For cnsideration and appreciation please
regards
dr vedula gopinathy hyderabad
In USA there is a clear cut law protecting the borrowers and lender cannot send gundas and take household items and take duress and unde influence. Even a regular noted finance companies and banks are engaging GUNDAS in the glorified name as collecting agency etc.
Hope the Legislature will do justice to the
genuine borrowers and reasonable delay is always appreciated. Better counselling prevails upon the lenders and finance companies.
Isaac Gabriel
(Expert) 14 March 2014
Unless the borrower tender blank signed cheques,he may not be able to get the loan for his immediate urge.Such exigencies are taken advantage to harass the borrower if he defaults in repayment,which is the regular phenomenon.Exploitation by the lender,perhaps,may be right.But it is the weapon on his hand to get his dues collected.When contract to repay as per schedule is broken,all these maladies come to the fore,and our legal system subserves as a tool in the hands of lenders.
T. Kalaiselvan, Advocate
(Expert) 14 March 2014
Mr. Isaac Gabriel has perfectly opined based on the prevailing situations wherein the borrower is compelled to part with the blank cheques in the name of security whereas the same being misused and the exploitations begin. The best way is to way to fight it out as per the circumstance of the case, engage a prudent lawyer who can defend appropriately.
Biswanath Roy
(Expert) 14 March 2014
THE BORROWER IS A FOOL THAT IS WHY HE PURGED SUCH ILLOGICAL COMMENT. THE BOUNCED CHEQUE DEFINITELY ATTRACTS SEC. 138 NI ACT
prabhakar singh
(Expert) 14 March 2014
JAUK SaHEB ek Mashoor SHAIR thai:
UNKA EK SHAIR HAI:
NAAJA NA HO KHIRAD PE KI JO HONA HAI SO HI HO!
DAANISH NAA TERI NA MERI DANISHWARI CHALE!!
prabhakar singh
(Expert) 14 March 2014
Do'nt be proud of your intellect.
It all goes as it is destined to go!!
Oh! WISE!neither your nor mine intellect prevails.
R.V.RAO
(Expert) 14 March 2014
all LCI experts have voiced a serious concern against the unethical practice of lenders.
is there a case for LCI with its eminent members doing something for the cause of poor borrowers?
apart from opining on various legal issues in the country,LCI is also capable of protesting such actions of lenders in various forums by way of representations, and or urging govt.and right minded public/pvt.entities to help the above cause.
LCI experts may kindly respond to this new role envisioned for LCI, A FREE FORUM IN PUBLIC SERVICE.
Isaac Gabriel
(Expert) 14 March 2014
Expert Prbaharji of course has manouvred to cool down the heat generated by Expert Biswanath.Senior has rightly intervened to defuse the tension.Thank you Prabaharji.
prabhakar singh
(Expert) 14 March 2014
I LOVE YOU ALL WITHOUT DISCRIMINATION BUT NEVER MISS TO THANK WHO LOVE ME TOO.
Guest
(Expert) 14 March 2014
@ all experts
The querist has already stated that he is satisfied with the reply of Shri Barman.I wonder why the members of experts community is fighting with each other in their eagerness to post their reply when he has not provided any feedback about the proof of loan with the lender. The experts fully well know that mere possession of cheque of a person does not establish that he is a debtor. The querist has not discussed even existence of any circunstantial evidence about loan. He has even not mentioned that the pertains to the amount of only the missing installment or some other amount. Moreover, the generic problem posted by him does not indicate anywhere that he is a party to the case. However, as a proprietor of some firm, I can assume that as a smart businessman he would have taken blank cheque and filled himself to present the same in the bank.
It seems that the participating experts have ignored to read his disparaging remarks against some of the experts, who termed the query as academic, and advised them not to attend this query as if they cannot apply their minds, as can be noted from his statement, "THE OBVIOUS REASON APPEARS TO BE THAT EXPERTS MAY NOT HAVE COME ACROSS THE SITUATION MENTIONED IN THE QUERY. THEY MAY NOT ATTEND TO THIS QUERY FOR REPLY PURPOSE BUT I WOULD SUGGEST THAT APPLYING MIND TO THIS PRACTICAL SITUATION ON THEIR PART WOULD DEFINITELY ADD TO THEIR LEGAL PROWESS."
I request the experts that they should not unnecessarily become a cause of insult to other experts by the querists by attending to academic queries of such type of egoistic querists.
Guest
(Querist) 15 March 2014
Dhingra Ji, aapke niche quote kiye gaye remarks ne disturb kar diya hai KAYONKI QUERISTS KE MAN ME EXPERTS KE LIYE HAMESHA BAHUT IZZAT HOTI HAI:
QUOTE
I request the experts that they should not unnecessarily become a cause of insult to other experts by the querists by attending to academic queries of such type of egoistic querists.
UNQUOTE
Guest
(Expert) 15 March 2014
@ Sandeep Kumar,
What about your presumption about the experts and direction to them through your message, "THE OBVIOUS REASON APPEARS TO BE THAT EXPERTS MAY NOT HAVE COME ACROSS THE SITUATION MENTIONED IN THE QUERY. THEY MAY NOT ATTEND TO THIS QUERY FOR REPLY PURPOSE BUT I WOULD SUGGEST THAT APPLYING MIND TO THIS PRACTICAL SITUATION ON THEIR PART WOULD DEFINITELY ADD TO THEIR LEGAL PROWESS"?
Aapke is message meing to aapko aapke mann mein experts ke prati bahut izzat dikhai de rahi hogi?
You can't presume that the experts would not have applied their mind. The opinions can differ according their own perceptions. Also how can you profess that the experts, who are already experienced and experts in their fields, can add to their knowledge out of general knowledge out of replies of academic nature? Still further, if you are so expert to know that the replies to general academic queries can add to the knowledge of experts, you could not have felt the need of help of any expert.
Normally, in general academic queries without containg the real facts of the case, in most of the cases the querist gets a misleading advice, as that may not suit to the exact nature of the legal problem. That is why, I prefer not to reply any academic query.
What I have observed, you post purely academic query and if someone points out towards that or asks some clarification, you become upset and react by casting aspersions against him for his observation.
You also forget that once a query appears in open forum, every one is free to give or not to give response on that. You cannot impose restriction on any one of them, as you have stated, "THEY MAY NOT ATTEND TO THIS QUERY FOR REPLY." This is a sort of direction to them. If you seek charity advice/opinion, you lose your right to exercise any option, who to respond or not to respond on your query. If you are so sensitive to the observations of some experts, I wonder, why you don't hire services of someone, whose advice you feel to suit your tastes, as you as a businessman can well afford to pay fee of any local lawyer also.
Biswanath Roy
(Expert) 15 March 2014
I APPRECIATE THE VIEWS OF LEARNED MR. DHINGRA AND NEED TO ADD THAT THE COMMENT OF THE QUERIST IS ABUSIVE.
Rajendra K Goyal
(Expert) 15 March 2014
Agree with the expert PS Dhingra ji and expert Biswanath Roy ji.
Dr J C Vashista
(Expert) 15 March 2014
@Sandeep Kumar,
Got it?
Donot drag the thread, please stop I request all experts.
prabhakar singh
(Expert) 15 March 2014
It is JUST LIFE SIRS!
WE COME ACROSS of many types: Humbles,Humiliating,Courteous,Discourteous,
Thankless,Abusive...........
Gulsan pasand hoon ajee GUL hi nahee ajeej!
Kaantaon se bhi nibah kiye jaa raha hoon!!
Ye soch k ki darakhtaun mai chaun hoti hai !ham babool k saaye tale baith gaye!!
Biswanath Roy
(Expert) 15 March 2014
With due regard my humble submission to all of the Learned Experts "NOT TO POST ANY PERSONAL FEELING" in this forum since it is a platform for guiding and helping querists with our legal opinion and advice.
prabhakar singh
(Expert) 15 March 2014
Sirs!
It was just very casual not 'personal feeling' but 'personal experience only'!
And i or any body here would be responding on his /her personal experience only.
Guest
(Expert) 15 March 2014
I thank all the experts, who endorsed my views.
Guest
(Querist) 16 March 2014
FOR SHRI RAJENDRA K. GOYAL
ABHI TAK YE PATA NAHI CHAL PAYA KI IS QUERY KO KIS AADHAAR PAR KUCHCH EXPERTS NE 'ACADEMIC QUERY' KARAR DIYA.
AB TO YE BHI DEKHNA CHAHIYE KI KAYA 'ACADEMIC QUERY' SHABDON KA PARYOG SAHI KIYA JA RAHA HAI.
GOYAL JI aap hi bata di Jiye,aapne kis angle se is query ko 'ACADEMIC QUERY' keh kar dump kar diya.
V R SHROFF
(Expert) 16 March 2014
May I ask" How are you connected with this Query personally??
& if answer is NO,
your Query is for your personal Academic Interest. OK.
It becomes AQ. Not a personal legal problem.
Guest
(Querist) 16 March 2014
Resected Shroff Sir, Answer is Yes. How experts presume the answer themselves and dump genuine queries as AQ. This is the MOOT QUESTION.
THERE IS NO DOUBT THAT EXPERTS ARE NOT BOUND TO ANSWER ANY QUERY AND IT IS THEIR GREATNESS THAT THEY GIVE OPINION WITHOUT ANY DIRECT INTEREST. BUT EQUALLY, IT IS NOT FAIR ON THEIR PART TO DUMP GENUINE QUERIES AS AQ AND DISCOURAGE QUERISTS. THEY CAN ALSO AVOID THE QUERY IF THEY FEEL THAT THE QUERY IS AQ. THE MAIN LOSS THE QUERISTS SUFFER IS THAT THE MOMENT QUERY IS ANSWERED AS AQ IT GETS RESOLVED AND THE PURPOSE OF THE QUERISTS IS DEFEATED.
Guest
(Expert) 16 March 2014
Mr. Sandeep,
You are raising unnecessarily a great alarm about the term academic, as if you are an illiterate or semiliterate person. Naturally, if you are running a business as a proprietor and also offering loans to people, you can be well educated. So, you can very well understand the meaning of a simple term, "academic". Even otherwise, you could well have referred an ordinary high school dictionary to satisfy your query, if you were so ignorant about the term academic.
Still further, you should not have expected the experts to hold tutorials for the querists to quench their educational needs.
However to satisfy your query, the term "academic" denotes, a student, or having no pracical application of knowledge. This not my own mind's product, the meanings are very much available in the New Webster's Doctionary, which you can also refer.
In fact, your query was like a question posed to the students for answering in the examination hall, but without the basic facts and the background of the case.
If the query was not of academic interest, I wonder, why you did not prefer to give complete detail of the issue and also not showed what concern you had with the problem and in what capacity you were related to the problem.
If you are the sufferer, the answer can be that which may prove to be useful to you. But, if yourself is the cause of the problem that may call for some other type of response that may not harm your interest.
If you pose generic queries for academic knowledge, the replies irrespective of some reply may satisfy you but cannot be assured to be useful for litigation point of view.
Even in the present case of loan, you indicated your satisfaction with the reply that the cheque "was given to discharge the debt which is legally enforecable against debtor," but that is subject to several ifs and buts. If you do not have sufficient proof of giving loan, just tell, how you can win the case if you go to a court of law? Further, do you feel that the opposite party would be so meek to be cowed down by your lawyer's pleadings in the court particularly when you would have sucked him with an unrealistic rate of interest or have not taken sufficient precautions to bind him ethically. I am sure, rate of interest being charged by you would also prove to be derogatory in the court of law to takwe a stand.
Still further, if you are questioned by the opposite lawyer, where is your license as a money lender, would you be able to take a stand. Won't that lead to some criminal case against you even?
If you are still unable to understand what is an academic query, I wonder how you prefer to throw pieces of advice for the experts as a layman, as you have already admitted earlier?
So, please don't try to be oversmart in your gesture merely to justify your uncalled for stand against the experts. If some expert replies your query, he is definitely aware of what and why he prefers to reply so.
Guest
(Querist) 16 March 2014
A simple query has been complicated so much by Shri Dhingra Ji. Moreover, he has said as follows about other experts:
"If some expert replies your query, he is definitely aware of what and why he prefers to reply so."
Biswanath Roy
(Expert) 16 March 2014
Non-sense and unwanted conversations is simply wastage of valuable time and energy which ought to be ended now.
Guest
(Expert) 16 March 2014
Mr. Sandeep,
What wrong you have found in my statement, "If some expert replies your query, he is definitely aware of what and why he prefers to reply so"?
Do you feel the experts reply senselessly without knowing what and why they reply? If you believe so, I wonder, what makes you ask your query from them at this forum?
