Cheque bounce case in a finance company.
I did get loan from Shriram finance Rs-3L and i did pay 10 installment after this i was unable to pay. At the time of disburse of loan I did give blank to them now they submitted to my bank. And my first cheque goes to bounce without any information. Now they send me a court summon so tell me what should?
In your scenario it is better to make payment of the cheque amount. Since you got summons from the court, the other party must have instituted a 138 NI Act case against you. So the best course is to enter appearance on the date of hearing and make a proposal to pay the cheque amount.
This will save you from unnecessary legal hassle. You may choose to contest the proceedings. In case you haven't received a mandatory notice stipulated u/s 138 NI Act, you may have a strong ground to contest. But agreeing to pay the money will end the proceedings quickly.
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