Vijay Dattatraya (Own business ) 26 July 2021

cheque bounce

Hi,

My mother was applicant and i was coapplicant to one of a mortgage loan..Finance company have put the cheque in the savings account which was without our consent and we were not aware about it..
Now they are threatening us for the laegal action..

there were 4 emi that was returned and i told them that give me some time so i can repay them..

but still they put the cheque in savings account without our consent..

Please suggest?

Regards,
Vijay

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4 Replies

Dr J C Vashista (Advocate) 27 July 2021

Facts posted are a bit confusing and vague.

How a financier can take blank cheques without your (borrower's) consent ?

If you have already repaid the amount, as stated by you, how legal action can be initiated by financier ?

If all 4 EMIs have been deposited, as stated by you, why did you ask for some more time to repay?

G.L.N. Prasad (Retired employee.) 27 July 2021

The confusing part of query is this: they put the cheque in savings account without our consent..

It is presumed that the entire correspondence is in writing and there are no overdue EMI in the mortgage loan. ..It is not clear as to whether any rescheduling request was given to the financier as per RBI directives during COVID.

There was no mention of honouring of such cheque or bouncing and the discussions with the financier on such cheque presentation.

What exactly is the present issue?