Hi, I have question regarding personal loan and problem of repayment. with the cheque bounces.
The business man who is now bankrupt, and he has to pay a loan of2,00,000.
1. how the court handle the defaulter? Is the cheque bounces serious case, court should consider the the present condition of the borrower.
2.does the court deal with such cases and remand him to imprisonment or will the court settle the the score of the lender and the borrower for the lesser amount? please help to handle this case or will this case be handled by the police or private agencies.
3. i have heard that the court will charge the defaulter with exorbiant fine doubling the amount and imprison him for 2 years?
