Hdfc personal loan defaulter
VINAY SINGH
(Querist) 10 January 2014
This query is : Resolved
I had taken loan of amount of RS-135000 from HDFC Bank on January 2012 for 3 years. I am currently working as Software Engineer in pune.
My salary is RS-23,000PM
I was unable to pay my 5 emi's of RS-4915. Due to some personal reasons i cannot able to save money from my salary to pay my emi.
I have paid 7 emi's from the date i took the loan but all the emi's paid are after the due dates.
Now, i have received a legal demand notice from a bank lawyer.
It is written in the notice that i am included in a proceeding under section 138 of NIA and also proceeding u/s. 420 of IPC.
I read about section 138 of NIA and it is applied to me because of bounced cheques.
Although i paid 7 emi's not on time but
I will pay all emi's to the bank with interest charges(added for not paying on time).
It is written in the notice that i have to pay the amount within 15 days.
Now, i have few questions:
1. I cannot pay the said amount within 15 days but i can pay it in 25 days. According to notice, will the bank take further strict civil and criminal action.
2. Will such civil actions against me spoil my career.
3. If within 3 years duration of my personal loan, if i am again unable to pay emi for 5 months then in that case, will i again become convicted as i received one 138 NIA legal notice previously.
Please help me in this regard, i am really worried.
ajay sethi
(Expert) 10 January 2014
you can reply to notice mention that you will forward payment within 25 days . make part payment if possible . .
even if they file civil suit you can seetle the case later .
if fresh slippage then fresh notice will have to be issued and fresh case filed
VINAY SINGH
(Querist) 10 January 2014
Thanks for your quick reply,
Now, I am really satisfied with your answer.
Yes i will make part payment as soon as possible,
But Sir,
can you elaborate your statement
'even if they file civil suit you can seetle the case later'
In what way, can this be settled later
Thank You Once again
Kumar Doab
(Expert) 10 January 2014
You have paid EMI's although not on time.
Submit a fitting reply thru your lawyer thru redg. post.
If you don't mind try to get out of the impulse of asking for loan.
Get rid of compulsions that compel you to go for loan.
After that try and save.
VINAY SINGH
(Querist) 10 January 2014
Thank you sir,
for your concern and i will keep your words in mind.
Thank You
Rajendra K Goyal
(Expert) 10 January 2014
Reply the notice through your lawyer.
If civil suit is filed, the same can be compromised in the court before decision at an early date. It seems they are filing complaint under 138 NI Act. Better find out the amount for which the cheque was bounced and try to pay.
Sudhir Kumar, Advocate
(Expert) 11 January 2014
action of bank is apparently fully legal (atleast as per facts so fact disclosed)
Sudhir Kumar, Advocate
(Expert) 11 January 2014
1. I cannot pay the said amount within 15 days but i can pay it in 25 days. According to notice, will the bank take further strict civil and criminal action.
Ans : You have to seek concurrence of bank for 10 days extension. Because on 16th day they are entitled to file FIR against you. 10 days extension doe s not spoil their right to FIR. Do not expect more leniency as giving time beyond this will be their stupidity which they will not do.
2. Will such civil actions against me spoil my career.
Ans : Certainly yes. Generally employers shun employing people who got convicted in financial matters.
3. If within 3 years duration of my personal loan, if i am again unable to pay emi for 5 months then in that case, will i again become convicted as i received one 138 NIA legal notice previously.
Ans : each bounced cheque is a separate crime and you can get multiple FIR against you. When they are going to incorporate 420 also (for which they may be having material as your query is silent on that) this is non-bailable.
Sudhir Kumar, Advocate
(Expert) 11 January 2014
If you pay the amount so far due (bounced cheques) within stipulated time then no criminal case is made out against you.
T. Kalaiselvan, Advocate
(Expert) 13 January 2014
Knowing it pretty well that bouncing the cheque is an offence, doing it intentionally will be an offence much severer to the original offence, i.e., even sec 420can be invoked. You can always seek extension of time for payment, acceptance is bank's discretion. Your career cannot be spoiled as a result of civil case but it may have an impact if you are convicted in a criminal case, so better be careful on that aspect.
Ms.Usha Kapoor
(Expert) 12 July 2018
I agree with IKUMAr Doab, RK Goyal and Ajay sethi's advice.
