Check bounced
5 years ago
Dear Sir,
One of our relative taken loan on tractor 3years ago. Due to non payment of loan for three months, tractor was taken by finance team i.e. 32 months back. They have sold it. And For the remaining RS. 1,34,000 they have filed case for check bounce. They took many blank cheques at the time of loan.
Case status: E/R of warrant - may I know what it.means?
My relative is a farmer with poor financial condition. The finance agency called it him and after few conversations they agreed to settle for rs. 60000. They are saying that first to pay amount Rs. 60,000 and later they will give NOC. But if they don't give NOC after payment and ask to pay remaining amount what to do?
What are the precautions we should folow? Before settlement and payment?
Moreover they have filed case in West Bengal metropolitan court. Please advise
Deepak Yashwantrao Bade
Responded 5 years ago
ROBERT D ROZARIO
Responded 5 years ago
Ambrose Leo
Responded 5 years ago
First you clear your loan as per the direction of the Bank probably under OTS scheme.
Keep documentary evidence.
Ask for clearance certificate along with all documents which had been deposited at the time of taking loan.
In case of difficulty get in touch through vidhikarya.com
Shanti Ranjan Behera
Advocate
It is better to settle the matter.
Rajender Prasad
Responded 5 years ago
Rajender Prasad
Responded 5 years ago