Dear Sir/Madam,
My Uncle has purchased a car in 2018, which was surrendered in 2019 due to job loss. Approximately 6 EMIs were paid, with the vehicle originally priced at 4.72 lakhs. The company sold the vehicle for 3.40 lakhs, leaving a balance of 1.3 lakhs. Recently, The NBFC/Company filed a cheque case for 7 lakhs, which includes the vehicle price and interest. However, the correct pending due is only 1.3 lakhs. The cheque was issued as security at the time of the loan issuance. Despite this, the company continues to demand recovery of the 1.3 lakhs after filing the case.
Could you please clarify whether sections 138 and 142 are still valid based on this case?
Thank you.
