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NOTICE RECEIVED AGAINST ACT 138

Querist : Anonymous (Querist) 09 September 2010 This query is : Resolved 
Dear Sir,
i've received a notice from court charging me with act 138 on behalf of citi bank for bouncing of their ECS CHEQUES. last year i had emailed them several times to reduce my ecs amout considering my present financial crisis but they didn't agree to it. now what would be the effect of this act 138 on me and what should be my steps to countfight this act. i want to pay off the remaing amount but with smaller installment. plz. guide me
s.subramanian (Expert) 09 September 2010
you can make such a request to the court itself and start making payment in instalments during each hearing of the case.
Parthasarathi Loganathan (Expert) 09 September 2010
There is an option to get the loan repayment re-scheduled subject to the fact that the interest applied thereon to your loan is fully serviced.


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