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What legal action can be taken by a bank in case of cheque bounce
15-Mar-2023 (In Cheque Bounce Law)
I stood as a gaurantor for one of my friend, he stopped paying the EMI's to the concerned bank. now the bank people has presented the cheque in my account which i gave for a surity. Due to insufficient funds it got bounced and the bank people called me and told that they were initiating a legal process towards me. I am physically handicapped person and i am feared of ending up in jail. I tried to contact my friend but his number is changed and he even shifted his home. i need a suggestion what can be done now if the bank takes a legal action against me. will i be sent behind bars. I am a disabled do i have any rights in this regard. kindly let me know.
Dear Client,
In eye of law lender can proceed against principal borrower or surety, in other words both are on the same footing. You issued cheque on behalf of your friend that means you accepted for obligation to pay in default of your friend. Bank will take action against you. But you must project your case in a court of law. Taking action does not mean that you will be put behind bars. Court will looked into facts and circumstances of each case and decide whether you will be punished or not. You need not feel nervous. There are remedies to come out from case successfully. You must engage an expert advocate who deals in Cheque Dishonnour Cases. He will assist you in court of law. There are ways and means to come out from the case successfully.
In eye of law lender can proceed against principal borrower or surety, in other words both are on the same footing. You issued cheque on behalf of your friend that means you accepted for obligation to pay in default of your friend. Bank will take action against you. But you must project your case in a court of law. Taking action does not mean that you will be put behind bars. Court will looked into facts and circumstances of each case and decide whether you will be punished or not. You need not feel nervous. There are remedies to come out from case successfully. You must engage an expert advocate who deals in Cheque Dishonnour Cases. He will assist you in court of law. There are ways and means to come out from the case successfully.
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Adv. Sistla Rama Krishna
Vijayawada | 400+ Answers
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