My father took 5 lacs from a person .He gave 2 cheques which were dishonoured. When case was filed under section 138 criminal case both of them made settlement to pay in 5 instalments . My father paid him 2 lacs in front of court but now his condition is worse. He cannot pay 3 instalments (1lac each). He is Hand to mouth and dont have any movable / immovable property . He is saying that he can only pay 10000 Rs. every month . Is there any possibility or remedy if complainant refuse to accept 10000 per month option? Kindly suggest the best way as he cannot pay huge amount in 3 instalment and can only pay 10000 per month with interest if any required.
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1. Father will not have any remedy in case the person receiving the amount refuses to take the same.
2. If he refuses to take then in that case he may again move to the same court and file a case for adjudication on merit.
if a legally enforceable debt has been accepted in the mutual understanding then you can not do anything but pay the money to the person concerned.
Regards
Sir there is no remedy as such because your father must have signed an MOU before the court and therefore he is under the legal obligation to pay the same else he would be penalised.
Yes the Complainant can refuse to take the said amount of Rs 10000.
The best way is only to convince the complainant to give you some more time.
Hello,
1) He must make a written representation to the other party explaining his inability to pay the installments as agreed in the settlement and offer the payment by 10000 a month going forward and send the first installment.
2) The other person can approach the court to complain about non compliance and this can lead to arrest of the debtor of he's unable to pay.
3) He can represent to the court then of his circumstances and inability to pay as agreed.
1) you cannot force complainant to accept Rs 10000 a month instalment
2) if offer is rejected your father has to face trial and would be convicted of offence under section 138 NI
1. Since his creditor has filed a case u/s 138 NI Act, he can not be forced to make settlement unless he is willing to do so.
2. So talk to him and seek his mercy. Only if he shows generosity then only your father can get some relief. Else wait for completion of trial.
3. Engage a good advocate to deal with your case who is seasoned in criminal law practice.
1) your father are liable to pay money and explain the reasons. State that he will shortly pay dues.
2) try to settle dispute through an mediator.
3) Please note that cheque bounce cases are criminal in nature.
4) Engage an expert advocate who deals with cases under Negotiable Instruments Act.
See complainant can pursue the case in case the father is not in position to pay the amount as agreed as per settlement. Further if the complainant agrees then with permission of court he can seek more time to pay the amount but that shall be on complainant and the court. There is no way to make this settlement of paying 10 thousand per month and getting away from the case.
1) If you can ask 10k plus interest from court order as you will be suffering huge loss.
He needs to file such application in court and on every date he needs to pay the same.
1. IF the complainant agrees, THEN the courts will grant permission for payment in installments. ELSE the court will decide the case, in favor of complainant.
2. Try to renegotiate with the complainant and offer new cheques. No other simpler option.
Keep Smiling .... Hemant Agarwal
Sir,
You can ask the court to send the case to mediation as you want to settle the matter.
Sir,
You can ask the court to send the case to mediation as you want to settle the matter.
Sir,
You can ask the court to send the case to mediation as you want to settle the matter.
Sir,
You can ask the court to send the case to mediation as you want to settle the matter.
Sir,
You can ask the court to send the case to mediation as you want to settle the matter.
Sir,
You can ask the court to send the case to mediation as you want to settle the matter.
Sir,
You can ask the court to send the case to mediation as you want to settle the matter.
Sir,
You can ask the court to send the case to mediation as you want to settle the matter.
Dear Sir,
The following information may kindly be read;
Five rights of loan defaulters
If you have defaulted on a loan, the rules do not give lenders a complete walkover. ET Wealth tells you what you should bear in mind if you find yourself in such a situation.
1. Right to ample notice
A default does not strip you of your rights or make you a criminal. Banks have to follow process and give you time to repay dues before repossessing your assets to realise the arrears.
Typically, banks initiate such proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests (Sarfaesi) Act. If the borrower’s account is classified as a non-performing asset (NPA), where repayment is overdue by 90 days, the lender has to first issue a 60-day notice to the defaulter.
“If the borrower fails to repay within the notice period, the bank can go ahead with sale of assets. However, in order to sell, the bank has to serve another 30-day public notice mentioning details of the sale,”
The lender starts the process of auctioning your property to recover dues if you fail to clear what you owe or respond during the 60-day notice period. However, before doing so, they will have to issue another notice specifying the fair value of the secured asset as assessed by the banks’ valuers, along with other details like reserve price, date and time of auction. “The borrower can object if the property is undervalued. He can justify his objection by conveying any better offer that he may .. have so that the bank can make a decision,” says Kulkarni. In other words, you can look for prospective buyers on your own and introduce them to the lender if you think that the property can yield a better price.
Do not write off your asset mentally the moment it is repossessed. Keep track of the auction process—it’s easier to do so now as most lenders conduct e-auctions. Lenders are required to refund any balance after recovering the dues, which is a real possibility given that property prices can shoot up beyond the owed amount. “After recovering the dues and all expenses of conducting the auction, the bank has to refund the amount to the borrower as the money belongs to him legitimately,”
During the notice period, you can make your representation to the authorised officer and put forth your objections to the repossession notice. “The officer has to reply within seven days, giving valid reasons if he rejects the representation and objections raised by the borrower,”
Do not forget that banks are regulated entities that cannot behave like moneylenders while trying to collect dues. Following adverse reports about the conduct of recovery agents, the RBI had pulled up banks over the issue a few years ago. Banks too decided to voluntarily commit to certain best practices as part of their code of commitment to customers.
For one, agents can contact borrowers at a place chosen by the latter. In case they have not specified a place, the agents can visit either the borrower’s residence or place of work. They are required to respect borrowers’ privacy during these visits and ensure civil and decent behaviour. They also cannot land up at unearthly hours. The window available is 7 am to 7 pm, unless the borrower’s working hours necessitate different timings. Agents cannot resort to harassment or intimidation and nor can they humiliate the borrowers or their family members.
It depends on the other party to accept your request and allow him to repay in installments or not.
If not then he may initiate process through court for penal action including getting a decree of sentence against your father.
There are no legal solutions especially when your Father had already agreed for this arrangement other than requesting the complainant to permit him to pay as per his his proposal.
