negotiable instruments act

Lakshmi (Querist) 13 October 2010 This query is : Resolved
cheque was given to bank while taking vehicle loan, can it be used by bank to file complaint under section 138

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adv. rajeev ( rajoo ) (Expert) 13 October 2010
Definately bank will use the blank cheques by filling them, if you become the defaulter.

R.Ramachandran (Expert) 13 October 2010
Yes, if th cheque gets bounced, since the cheque was given in discharge of part of whole of the legally enforceable debt.

aman kumar (Expert) 13 October 2010
yes , bank can use it !

s.subramanian (Expert) 13 October 2010
Yes. It can be used.

Shyam Ji Srivastava (Expert) 13 October 2010
ANSWER OF ALL MY LEARNED FRIENDS ARE CORRECT.

Parthasarathi Loganathan (Expert) 13 October 2010
However, banks normally give oral notice to the borrower before they present the blank cheques duly filled as per conventions

Chetan Pichamuthu (Expert) 14 October 2010
Is the query about EMI chq or Whole amount cheque/Security PDC? Your EMI chq's will be normally be for every month installments & these can be filed without doubt. But if its the Whole amount chq, i.e covering the entire loan amount, then the banks will now trend carefully cause of recent order on security PDC.

pawan sharma (Expert) 14 October 2010
yes,i agree .

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