Staff loan

Dear Pradeep,

You cannot challenge the policy of any corporate entity - on the other hand you go and represent to a Bank who might come to your aid by taking over this loan amount - allowing you to remit the same in EMI's

Best Regards

Daksh

Dear Pradeep,

While taking the loan from ICICI bank you must have taken a copy of arrangement letter with terms and conditions of repayment. You should have taken, if not. Now since, you have given them cheques (3) worth Rs. 5 lacs that means you are ready to pay them lumpsum in three instalments. Here also you could have given them post dated cheques. I donot what you have done, but if they present even one cheque and if bounces back you are liable to be dealt u/s 138 of Negotiable Act. Now you can approach and request the bank with your own repayment programme and you should promise them that you will adhere to your own repayment programme. If your bank agrees, well and good. If it does not agree, then of course the same thing can be said in court of law that you will repay the loan regularly now onwards as you donot have the job right now. Court may consider you request. May God help you.

S C DANEJ

first of all u ask in written for EMIs, also give a registered letter to bank not to present cheque for collection as ur a/c has in sufficient balence.  file a consumer case,  give complaint as harrasing .