Loan company has sent be a legal notice

Not clear why you are not able to pay EMI now when you were able to pay at the time of purchase.

if you have wrongly convinced the company that you do have capacity to pay all the EMI the S/420 applies on you.  It is now known as to how charges of S/406 (breach of Trust) are imputed.  Seems some facts are not available.

Your query is limited to as to how to make a settlement.  It is not a legal query.

at the time of my purchase i used to do a job but unfortunetly from the month of september i have no job and i failed to pay the emi since october. i live with my grandparents and they are very aged persons.Please help me out.

This is a pure civil matter so no IPC 406 or 420 can be put . This is just pressure tactic to get money early.

CHEQUE BOUNCE ACCUSED  AS WELL AS COMPLAINANTS TAKE ADVANTAGE OF LOK ADALAT SHEDULED ON ALL INDIA BASIS ON 14^TH FEB 2015 ON INITIATIVE OF-

 MINISTRY OF FINANCE GOVT OF INDIA.

FAR EXISTING AS WELL AS FUTURE CASES AND EVEN APPEALS.

Good for accused.

a)     You will come out of criminal cases.

b)     Bargain hard in  LOK ADALAT and your liability may be reduced many fold.

c)     Show inability to pay upfront and issue post dated cheque.

d)     Even if this cheque bounces in future there will be no more criminal case but only civil case for recovery but with interest. You will  get  lot of time to pay up.

e)     Even the case is  now  in appeal such settlement will be allowed in LOK ADALAT.

GOOD FOR COMPLAINANT ALSO.

a)     You will come out of expanses for criminal case immediately.

b)     Even if the settlement cheque of LOK ADALAT bounces you can file summery suit for recovery where the procedure is short sure and simple

c)     Even if you to agree for reduction in  value and settlement cheque is bounced even than in the future through summery suit you can get interest till recovery.

d)     In the criminal case if the accused do not have money he / she will at the most go to  Jail which has no meaning for you.

e)     And in cases after long trial and further appeals if the case is lost you will loose opportunity to file civil case due to limitation.

SO THIS IS WIN WIN SITUATION FOR BOTH AND TAKE ITS BENEFIT.

Try to add value to the discussion, with your each post.

anyone is there to help me out please.

not able to read attachment.

You are already given legal views.

You wanted to buy something for which you did not have ready price to pay. 

Now you are liable to pay even if you have a job or not. It is the company alone who can take mercy by settling for lesser amount.  ask company how would they leave you.

Your query is not clear as to how much due is there.  what is the salr price available in market for samsung galaxy grand duos if you want to sell now.  whether you received any teleponic reminders and what transpired from you in the same.

The company  has charged you under the said sections of IPC, how by way of legal notice or through police complaint?, This is a matter of recovery of default amount hence the police may not entertain complaint and if at all the company issued a legal notice, you may approach the company for settlement on the terms which you propose, if they do not agree, let them file a money recovery suit upon which, you can settle the same before the lok adalat when the case is posted for trial before the court.