Section 138 against me by HDFC Bank
I am in a soup, and desperately need help. I had taken a bank loan, and was paying the EMIs regularly. And then suddenly life took a bad turn, and I had to resign from my job. Currently I am working as a freelancer writer, with limited income (actually it is almost 5 thousand rupees a month) and my EMIs around 12000 per month.
Because of the same my EMIs had bounced and it is more than 6 months due. One mistake I did was when I was served legal notice from the bank i did not reply. But at the same time, I have mailed to the bank's seniors about my critical finacial condition and promised that as and when I have money I will start paying back.
In my every conversation with the bank, verbal or written, I have made my stand clear that I will pay the bank's entire amount. But right now I am facing such financial crisis that I dont have a penny to pay.
Now the bank has filed a case against me u/s 138 for cheque bounce. Cheques which i had given as security while procuring the loan. My loan amount is 5 lac.
Now, I have to appear in court on 13th September 2016, and the summon also mentions that I should come prepared for the bail. What I understand is that the case against me is a bailable case. But how much money will be needed to procure bail? Though I still have around 40 days to appear, but I need to have an idea as how much money will be required for bail so that I can make arrangements.
Also, I need to know that in a case like mine, where the accused does not have money to pay and neither any property or asset, what stand does court take.
Your kind help is solicited, to address my fear. Please help.