Personal query
Punith
(Querist) 21 May 2014
This query is : Resolved
There is security Cheque being bounced in my account to clear a personal loan amount I am aware there are few pending dues on me but i am still paying my loans not by ECS directly as a cash in to the concerned bank I still have time to pay the complete loan till 2016 but the recovery team has gone head and deposited the security cheque which was issued in 2011.
and they did say that the loan will be recalled.
Loan financed : 310000
According the calculation total outstanding comes to : 226170
per month EMI is : 7539
dues pending : 30137
Installment paid : 196033
interest paid : 90774
Principal paid : 105259
over due charges on me : 14014
But presented cheque amounting to : 217912 which I am unable to understand kindly provide some advise. I went to the bank and asked them to give some time to pay the overdue amount they say they will 1 days time to pay the overdue amount or i have to face consequnces please advice.
Sankaranarayanan
(Expert) 21 May 2014
Without the reason the banker never act like that. So approach the concern authority and seek the details. If it correct then no other way to pay the due. Is any notice sent by banker for bounce of cheque?
Punith
(Querist) 21 May 2014
No sir i never received any notice but an email was sent to me. Ok sir agree on that part but are they not able to provide ample amount of time to payback the dues is my query, please advise.
ajay sethi
(Expert) 21 May 2014
you have defaulted in paying installments on time . hence bank has recalled the loan and deposited the security cheque . legal notice will be issued to you and on your failure to pay the cheque amount complaint under section 138 Ni would be lodged
Sankaranarayanan
(Expert) 21 May 2014
Amicably solve the problem . Your default is the problem for this issue.The banker done their duty only
Anirudh
(Expert) 21 May 2014
If they had recalled the loan, they cannot use the cheque issued by you at the time of sanction of the original loan.
If they file a case under Sec. 138 or before that if they give you a notice u/s. 138 you have to give a suitable reply.
You have to approach a lawyer for doing the same.
Rajendra K Goyal
(Expert) 21 May 2014
You have defaulted the loan, Bank has recalled it and used the security cheque. If you receive the notice for cheque bounce, reply the same through your lawyer.
Try to have amicable solution, Bank if satisfied would give time.
