JAV (STAFF) 23 July 2011

Can they arrest and imprison my friend

HI, my friend had taken a loan from icici and now he is in a state where he is unable to pay, he has also given post dated cheques and had bounces; could please say that will my friend be arrested on the base of cheque bounces or will he imprsoned for many years? how to get rid of it legally?

bank had sent notices and now the bank has come to a conclusion to sue him. how can he escape from the court trail. what would the court verdict on this issue of personal loan?

thanks a lot.

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3 Replies

Saurabh..V (Law Consultant) 23 July 2011

@Author

If you have taken loan then you have to repay it. There are several different provisions to go about it. The bank may file a civil case of recovery or a criminal case. It's upto them. It is covered under S.138 N.I.Act.

Cheque bounce is not as big an issue as is non-payment of loan amount. You have to find a way to payback the loan or get jailed for it.

//peace

/Saurabh..V

Gaurav (DCJA) 23 July 2011

I fully support Saurabh's view. We need to have our hands clean before we seek any relief at any forum. Once we take a loan, the responsibility too lies on us to repay it, whatever be the hitch. Or else face the alternative..