1) bank should give in writing that sum of Rs 20 k is accepted in full and final settlement and they shall withdraw complaint filed by them under section 138 NI on account of dishonour o cheque of Rs 73 K

2) hand over demand draft of Rs 20 k at time of withdrawal of case in magistrate court

Settlement letter is an offer to make settlement at a mutually agreed terms.

This is no prooff of settlement or adjudication of dispute.

Once you get closure letter then only your dispute will end and your adverse standing in the CIBIL would be reversed.

So make payment in on hand and take closure letter in another hand. In other words both the process must occur simultaneosuly.

Hello sir , if they have already filed a case and you have recieved the summons from court , then you can settle the amount before court on the very first appearance ..it is a bailable offence so there is nothing to worry .. If they still have not filed the case then it is better to settle it outside , but do ask them to return the cheque when you make the payment .. If the cheque is returned then they cannot proceed legally in future ..

1. Now your Cibil report would show 'suit filed' in the column of credit card issued bank.

2. Settle the issue with pre-condition that your name should be removed from negative list of Cibil ( Get the formal settlement letter and make the payment ) .

3. If bank does not remove your name from the negative list then you can initiate criminal proceedings against the bank for cheating/defamation.

You may discuss with me, If you need more info. on settling this account.

If the case has been filed in the court then mere letter will not suffice.

Deed of settlement will have to be filed in the court and the court will pass an order to this effect.

After following this procedure only the case will be considered to be withdrawn.

Regards

Ya that is fair enough to settle the issue. In that closing letter the bankers should give undertake to withdrawal of 138 case filed against you.

Without the insufficient fund reason the 138NI is not applicable.

If you are agree to settle the case by agreement to 20k please take all the condititions in writing that they will withdraw the case.

The CIBIL report will reflect the transaction as settlement and definitely affect your CIBIL rating.

Yes settlement is better option it can be out of court or inside court, on the day of date of your matter both the parties can say that they are willing to settle the matter, you will provode the amount in court

Dear Client,

Bank can on pretext of any settlement may collect payment and later seize to any settlement, not bound, until gives in court in court.

Submit before the court the above settlement mutually. and get it recorded in order sheet.

Also, such interest rate on 3000 Rs is no valid. As on default for few months, accounts become NPA n stop operating.

Don`t lapse to get recorded in court that bank will clear ur CIBIL score.

1. You an not truest the ban at this juncture, or enter into an agreement with the bank in this regard wherein they should undertake that they will take back the case and if not then on the basis of such agreement the case can be withdrawn by your also.

2. Yes as advised, above you can do this and not alone the settlement letter will work

Enter into an settlement agreement also, propose the same to the bank.

Regards

There is no guarantee that Bank will withdraw case on receipt of Rs 20 k

2) the settlement letter should mention that pending complaint filed under section 138 NI would be withdrawn on receipt of Rs 20 k

3) court cannot force Bank to withdraw case merely onbasis of settlement letter

1) When Account is closed and settled officially (Bank official letter along with payment receipt) with bank. Do they still try to extend case and disturb. -- Get it mention in settlement letter that all the dues are clear towards credit card payment along with penalty.

2) If case still is pending intentionally by bank post official settlement. Can I show the settlement letter and payment receipt of bank to court stating that the amount is settled and closed through bank officials. ---- Case can be withdrawn on the instance of complainant, but in recent judgement of Supreme court, it is settled that if parties come to settle their disputes, court on its own can drop charges.

The withdrawal of the case in the court is one issue that the bank will definitely do. They will not give you in writing but a settlement letter as NOC will be provided for your record. There will be no disturbance and you have right to complain in the police if any disturbance is created by the recovery agents ( however there will be no such case).

As soon as you get the settlement paper there will be no issue .

Yes be present in court on the next date, and both oarties will tell court that you are coming to settlement, and that the bank would like to wothdraw the case

Best option is to make the payment of Rs.20000/- in the court on the date of hearing and the authorised representative of the bank will record the statement a/w settlement letter and withdraw the case. Second option is to get the case referred to Mediation Centre, record your settlement before Mediator. Mediator after recording the settlement send back the case to the Court and authorised representative will withdraw the case on receipt of 20K.

Now I spoke to bank and asked for settlement and they agreed for settlement of 20K. Is settlement letter enough for closing the case and loan or do we need written communication from bank that they will withdraw the case post paying settlement amount. Am little worried post payment of this amount the bank people can again trouble me for additional amount. Request your response and process to close this legal case. If settlement letter along with payment receipt is enough am happy to pay and close the account.

If the bank has already initiated cheque bounce case in the court, then this settlement letter will be of no use to you.

They have to withdraw the case pending in the court to get you relieved from the case.

You can insist the bank to file a memo stating that the matter has been compromised out of court and since the settlement has already been done the complainant hereby withdraws the complaint as not pressed.

1) When Account is closed and settled officially (Bank official letter along with payment receipt) with bank. Do they still try to extend case and disturb.

The settlement arrived with the bank is a different subject to that of the pending case in the court, the bank has to withdraw the case from court otherwise it will not be automatically be closed.

2) If case still is pending intentionally by bank post official settlement. Can I show the settlement letter and payment receipt of bank to court stating that the amount is settled and closed through bank officials.

You can use the said documentary evidences and produce the same before court as your defence during trial proceedings.