1) Electronic funds transfer is defined in the payment and settlment act as any transfer of funds which is initiated by a person by way of instruction,authorisation or order to a bank to debit or credit an account maintained with that bank through electronic means and includes point of sale transfers,automated teller machine transactions,direct deposits or withdrawal of funds, transfers initiated by telephone, internet and card payment

2) Where an electronic funds transfer initiated by a person from an account maintained by him cannot be executed on the ground that the amount of money standing to the credit of that account is insufficient to honour the transfer instruction or that it exceeds the amount arranged to be paid from that account by an agreement made with a bank,such person shall be deemed to have committed an offence and shalt,without prejudice to any other provisions of this act, be punished with imprisonment for a term which may be extend to two years, or with fine which may extend to twice the amount of the electronic funds transfer, or with both:

3) The provisions of Chapter XVII of the Negotiable instruments Act,1881,shall apply to the dishonour of electronic funds transfer to the extend the circumstances admit.

4) complaint under section 138 Ni would be maintainable .

5) since you have only signed ECS mandate form you woulkd be liable

6) complaint can be filed within jurisdiction of court wherein ecs mandate was given or received

7) complaint cannot be filed in any state

8) if any case is filed you should contest the case

1. Yes, if it is wife's account then bank can file such case from the place where the account is situated.

2.Yes you can and for this talk to the bank.

3.I find no reason why the bank would refuse such proposal since you are co-applicant.RBI has nothing to do in this.

4.The case can be filed outside WB also if they deposit in their a/c outside WB.

(1) can they file case for ecs bounce? what will be the procedure and in which jurisdiction it will happen? ecs mandate signed by me only. will my wife will be charged for ecs bounce?

EMI is failed to pay then you become a defaulter. So Bank can initiate the recovery of debt by way of starting legal proceedings against you. The Reserve Bank of India offers the Electronic Clearing System for faster payments and collections. The beneficiary has to furnish a mandate to the user institution giving consent to avail the ECS Credit facility.

(2) can i any way stop my ecs and nach mandate and repay loan by neft ?

In case of any need to withdraw or stop a mandate the customer can do so by approaching the user institution to withdraw the mandate. The account holder / customer can also withdraw the mandate / debit instruction directly from his / her banker without involvement of the User institution. The withdrawal instructions of a customer in such cases would be treated equivalent to a ‘stop payment’ instruction in cheque clearing system. However, as a matter of best practice, the customer may also provide prior notice or intimation of mandate withdrawal to the ECS user institution well in time, so as to ensure that the input files submitted by the user institution does not include the ECS Debit details in respect of the withdrawn / stopped mandates, leading to avoidable returns/rejections etc.

(3) if banks are not agreeing for restructure what will be my plea? i am willing to pay the amount but require time. should i approach to rbi with medical documents?

Take ECS very seriously because an ECS debit mandate is just like a cheque issued by you. This means, you need to ensure you have enough funds in the account, so that your ECS gets cleared. If you bounce an ECS, you will have to bear the same fines as you would have for a bounced cheque. RBI has no role in such type of issue.The restructure of debt or loan purely discretion of the bank itself. Keep in mind that your bank runs an ECS and there isn't enough funds, bank may run an ECS again at a later date (usually a couple of days), that is after a few days. But, if you fail to have funds by that date, your ECS will bounce. Also, re-run of an ECS is not your right but dependent on your bank's policy.

(4) iin chq bounce case can bank file cases in any state? i am residing in westbengal. what should i do then? should i appear personally in 138 cases?

You should treat as a person who done a crime like 138 NI Act

Hi

138cases will be filed depending on the place where the drawer's bank is .

Yes you or the one accused in the cheque has to appear in person.since you are I'll after initial appearance you can get an exemption

If cheue cases are.intited you will get time to end the matter by settling it.

But banks will chose the easy way of DRT if there is property in your or co applicant's name .

If any DRT proceedings are initiated you will get less time to pay .

Whichever the scenario of the above,get à lawyer to defend you.

Medical ground is not an exception ,unless you got any insurance policy issued by the bank covering the loan in illnesss,

my qs are (1) can they file case for ecs bounce?

They can file cheque bounce case.

what will be the procedure and in which jurisdiction it will happen?

The jurisdiction will be the bank's location where the cheque was presented for collection.

ecs mandate signed by me only. will my wife will be charged for ecs bounce?

Your wif will not be involve in this.

(2) can i any way stop my ecs and nach mandate and repay loan by neft ?

You have to give a letter to the lender in this regard.

(3) if banks are not agreeing for restructure what will be my plea? i am willing to pay the amount but require time. should i approach to rbi with medical documents?

RBI will not interfere in this,

(4) iin chq bounce case can bank file cases in any state?

It can file the cheque bounce case only in the place where the cheque was presented for collection.

i am residing in westbengal. what should i do then? should i appear personally in 138 cases?

You have appear before court without any hesitation.

1. We having a law firm bases in Kolkata handle cases in Mumbai as well. So you may contact at [deleted].

2. It is a civil dispute and there is no immediate chance of arrest but in execution proceeding to recover the awarded sum of money the court can several orders including arrest for civl imprisonment.

3. Do not worry as case u/s 420 would not stand.

4. You are not liable for the default of your wife. They have done mistake which would act in your favour in the future litigation.

5. Contact me.

1) you need not appear personally ebfore arbitrator

2) you cna appoint alwyer to do the needful

3) arbitrator would pass orders to direct you to pay outsnading dues with interest , litigation costs

4) you wont go to jail

5)if your account is only in your name ecs mandate could be given only by you

6) number of lawyers on this website from mumbai . contact any of them

7) it is better to settle amicably with bank as litigation is an expensive proposition

1. WHAT SHOULD I DO? I RESIDE IN KOLKATA? HOW CAN I GO TO ARBITRATOR IN MUMBAI?

If you have decided to challenge the case before arbitrator, then you may have visit the same in person r accompanied by a lawyer.

2. WHAT PUNISHMENT CAN BE AWARDED BY ARBITRATOR? CAN HE AWARD JAIL?

He cannot award conviction for imprisonment, it is civil law.

3. SAME BANK ALSO THREATENED ME TO START 138 NI ACT AND FRAUD CASE EVEN AFTER SUCCESSFULLY PAYING 30 EMI AND ONLY 2 EMI GOT BOUNCED ? HOW CAN I TACKLE THIS 420 CASE?

You have to fight it out on the basis of merits in your side.

4. SAME BANK ALSO ISSUED LEGAL NOTICE FOR ECS BOUNCE AGAINST MY WIFE WHO IS A CO APPLICANT BUT ECS MANDATE IS ONLY SIGNED BY ME AND THE SAID ACCOUNT IS ONLY OF MINE. HOW CAN SHE BE LIABLE FOR ECS MANDATE? WHAT SHE CAN DO NOW?

This is for her information and also her liability as a co-applicant.

5. HOW CAN I GET LAWYER IN MUMBAI? ANY HELP PLEASE

There is no dearth for lawyers i Mumbai