Nia

Dear Sir, I need a serious help, please give me some input from your professional base. Issue is of NIA 138 Act. My father is Lecture in college of Ballia(UP), he borrowed many private loans from local money lenders and also from bank, because he felt into nexus of money-lenders where he have to pay 5%,15% and even 25% too Per month at the end. He took this loans for the study of our education and marriages of sisters. All these information about loans were very private to my father, no one from my family no all these things, being a government servant and well paid why did he took these debt, its a question from every one. Actually in UP payment always delayed and our two brothers have taken professional courses from private colleges, our two sister get married in which we invested more to maintain the social aura. My father socially very sensitive and conservative. He never shared his financial problem with any one. All these events started in 2006. In 2012 when he went into heavy debt, because he was paying only interest and every where principle amount remain same,some where its interest merged into principle, and some to pay interest he took a new loan referred from the one lender to another and where a new amount pillared. I am telling all these story so that you can understand the background. In March 2012 he went missing, no contacts, when we investigated then our family know the his dark secrets, because some lender approached our house many time, after lot of inquiry from my mother side then a lender elaborated his history. Actually he fall into depression after facing all these things lonely. When he went missing, he was afraid to come home after getting many threatening calls from lenders. Somewhere he was trying to arrange a big amount of Rs. 20 Lac, from some other lenders so that he can pay everyone. But thanks, God Saved us. We traced him and took him to home, we build a confidence among lenders that we are here and we will settle each and everyone's amount. We admitted my father for the treatment of his depression and weakness. After 2 days we asked him about all his debt, It was big amount, both principle and interest could go beyond 45 Lacs. For the solution we call all lenders and told about his condition and requested to close his demand if they received much more than their principle amount. Some of them agreed but some went rigid, Now, approx 13 Lacs amount which was taken very recently and no or less interest paid, we settled them in cash(we arranged this money by taking from our relatives and selling our property), all who agreed have surrendered their notary(written by my father while taking loans), then we approached Police after that only 2-3 lenders remain, because all lenders were unauthorized. out of these 3 lenders one who have gave was died before and they have already received double amount of their loan, but his sons were collecting the interest and at the end he didn't agree to compromise (we started compromise in Aug,2012) then we submitted a FIR against him and charge sheet has been also submitted. In all the transaction my father used to pay in cash, without having any payment slip or maintaining diary etc. In 2012 when he had no source of income then under pressure he submitted some cheque to lenders to make them silent. this cheque service was allotted to him in Jan2011 when he borrowed Rs.10 Lac loan from SBI to pay interest of loan to lenders. He was unaware about all the legality of cheque. He issued some cheque in 2012, but we recovered many of them from lenders while compromising this issue and we also asked bank on 1st may,2012 to close all cheque in written, bank manager signed our letter and we assumed the cheque is being stopped. Out of two lenders 2nd one has a cheque of amount Rs 28800(4month interest in Rs7200 interest each month @5% P.M) also didn't compromised and he send a legal notice to us later on against cheque bounce and the non payment of loan too. His name is Dinesh- - My father issued cheque Rs28800 on 12,March,2012 to Mr. Dinesh, . - We closed this cheque on 1st May,2012 in SBI branch, manager signed our application. - In account there was only Rs.1500 maintained at that time. - on 9th may 2012 my fathers two month salary credited collectively approx Rs.1.6Lac. - but on 10th may two other lenders whose cheque was also closed in the series of cheque, they debited their amount. (in our knowledge cheque was closed but payment made, here banks fault, they didn't entered the series of check into their database,after several complaints bank manager settled that amount from his pocket) - Mr. Dinesh in his legal notice said that he went to bank on 7th may2012 and there was not sufficient cash in my fathers account, so cheque dishonored. As per his saying bank didn't gave receipt and he take the statement from RTI. - Bank didn't levied any penalty on my fathers account if cheque was dishonored. Actually, Mr. Dinesh created a case of cheque bounce against my fathers, I want to know you insight on this case, because cheque is under LOK ADALAT right now and other case is also in DIWANI court from Dinesh side. Our advocate lacking many things to benefit us. These lenders have a big nexus, we are the only one who are fighting against them, most of the other debtors feared from them and as per my knowledge a man suicide himself due to their pressure. I am saving my father from the beginning, more than 5 years gone still fighting. My english may not sense the real impact of this issue, but its a big challenge for me to win it and make my father calm. Please help!! Thanks!!