Suggest for u/s 406 & 420
Querist :
Anonymous
(Querist) 23 October 2011
This query is : Resolved
Hi
COMPLAINT (BANK) U/S 138 OF N.I. ACT IS INCIATE AGAINST ME EARLIER, I HAVE TAKEN THE BAIL FROM COURT, AFTER THAT BANK NEGOTIATED WITH ME THE SUM AMOUNT I WILL HAVE TO PAY, I GOT THE APPROVAL FROM BANK REGARDING SAID MATTER, BUT I FAILED TO PAY DUE TO FINANCIAL PROBLEM NOW I GOT A NOTICE FROM THE COMPLAINT THAT u/s 406 & 420 ACT INCIATE AGAINST ME IF I WILL NOT PAY WITHIN 5 DAYS.
EXPERT PLEASE SUGGEST ME WHAT SHOULD I DO, I WILL NOT ABLE TO MAKE THE PAYMENT ONE TIME
Guest
(Expert) 23 October 2011
You can make request to the bank for fixing easy installments. Of course, you may be liable to pay interest also on the deferred payment of balances.
ajay sethi
(Expert) 23 October 2011
these are pressure tactics adpoted by bank to force you to make payment . the bank will have to prove that 406 and 420 is maintanable .
however it is in your interest to settle with the bank . make an offer to pay in install ments
Shonee Kapoor
(Expert) 23 October 2011
Renegotiate with bank.
Bank is more concerned about getting their money back than filing and fighting cases against you.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Devajyoti Barman
(Expert) 23 October 2011
You have no option but either to face trial or to reach to an amicable settlement with the bank.
Querist :
Anonymous
(Querist) 23 October 2011
Thanks to all of you,
But i have a query- for the time of my vehicle financed i have issued some blank cheques to bank, Bank claimed that i have issued a cheque of Rs....which was bounced, but i had not issued the said amount cheque, how it possible to bounced & I did not get of my cheque which was bounced from bank with bouncing cause, and also my bank account closed before the cheque bouncing date which was mentioned by bank, how could cheque bounced
please suggest me
I shall be highly obliged.
Devajyoti Barman
(Expert) 23 October 2011
If you could establish that the bank was supposed to deposit the cheque and in the contrary it should have handed over to you long ago then the case for cheque bouncing would fail.
