Advocate Veena Bane

Questions Answered by Advocate Veena Bane (50+ answers)

Q: Attachment of property if loan not paid, what are the laws in case of bank japthi notice ?

I had taken a cash credit loan against stock from a bank but was unable to repay it. As a result, the bank approached the cooperative court and attached my family property. In the municipal records, the property card mentions "Japthi" from the Co-op Bank.

1. What does a Bank Japthi Notice mean, and what are its legal implications?
2. Can the bank still demand repayment after issuing a Japthi Notice?

Advocate Veena Bane answered

If permitted by the society’s bye-laws, action can be taken against guarantors in case of loan default. The first step is to issue a legal notice, which may include a Bank Japthi Notice, through the society’s legal advisor. If the society does not have a legal advisor, a lawyer can be hired for this purpose.

If the guarantor fails to respond within the given time, the next step is to obtain a court attachment order. This allows the recovery of dues through the auction of the guarantor’s property, including cases involving House Japthi (property seizure by the bank).

If the bye-laws do not allow action against the guarantor (though they usually do), or if the guarantor has no attachable property or is absconding, the debt may need to be written off as a bad debt. In such cases, the unrecovered amount can be adjusted against the reserves allocated for bad debts.

Before taking any final steps after issuing a Bank Japthi Notice, it is advisable to consult the society’s bye-laws and auditors. Passing resolutions and making accounting entries should be done only when no other legal recourse is available.

Q: Repayment and bank harrasement

Dear sir,Due to some financial issues i am stuck with repayments for loan emi n credit cards .Only 1 emi bounced for credit card min amount is high .I haven't said that i will not make payment but PL ,Car loan ,Credit card department are forcing me to pay otherwise they will take action legally.I told them i will pay the interest regarding the same but they are denying as well as not cooperative.Request you to pls guide me for the same.

Advocate Veena Bane answered
In response to notice received under section 17 of interim orders.I was using a kotak credit card, but due to my job loss and financial crunches i was unable to make payments but i kept on paying them their minimum dues. They removed my account from online application through which i was getting information regarding my outstanding amount and also the statement they used to send that was also not accessible because of wrong password set. Now they had sent me a legal notice under section 17 of interim orders and i m not aware what to do.. Please helpAnswers (1)Dishonor of cheque or cheque bounce occurs when a cheque that is presented in the bank is returned unpaid. It could occur due to insufficient funds in the bank account of the person who issued the cheque or if the signatures on the cheque do not match with the original signature of that person. You can proceed against the person who has issued such a cheque under various provisions of law. The most important and useful provision to consider is Section 138 of The Negotiable Instruments Act. I will help you

Q: Cheque Bounce case needs to be processed

My client give me cheque against the outstanding, since 4 months he is not responding against phone calls, sms and WhatsApp. I have visited his office but he is not available. I have his one security cheque with me if I deposited it will get bounce. So I want to prepare legally before deposition of cheque kindly advice.

Advocate Veena Bane answered
In response to notice received under section 17 of interim orders.I was using a kotak credit card, but due to my job loss and financial crunches i was unable to make payments but i kept on paying them their minimum dues. They removed my account from online application through which i was getting information regarding my outstanding amount and also the statement they used to send that was also not accessible because of wrong password set. Now they had sent me a legal notice under section 17 of interim orders and i m not aware what to do.. Please helpAnswers (1)Dishonor of cheque or cheque bounce occurs when a cheque that is presented in the bank is returned unpaid. It could occur due to insufficient funds in the bank account of the person who issued the cheque or if the signatures on the cheque do not match with the original signature of that person. You can proceed against the person who has issued such a cheque under various provisions of law. The most important and useful provision to consider is Section 138 of The Negotiable Instruments Act. I will help you

Q: In response to notice received under section 17 of interim orders.

I was using a kotak credit card, but due to my job loss and financial crunches i was unable to make payments but i kept on paying them their minimum dues. They removed my account from online application through which i was getting information regarding my outstanding amount and also the statement they used to send that was also not accessible because of wrong password set. Now they had sent me a legal notice under section 17 of interim orders and i m not aware what to do.. Please help

Advocate Veena Bane answered
Dishonor of cheque or cheque bounce occurs when a cheque that is presented in the bank is returned unpaid. It could occur due to insufficient funds in the bank account of the person who issued the cheque or if the signatures on the cheque do not match with the original signature of that person. You can proceed against the person who has issued such a cheque under various provisions of law. The most important and useful provision to consider is Section 138 of The Negotiable Instruments Act. I will help you

Q: For cheque bounce quiry I had got summon from court

I was given chEque of hdfc bank link road mala west Mumbai branch the party has fill check bounce case at andheri mm court is the jurisdiction is correct or wrong... Plz guide

Advocate Veena Bane answered
Dishonor of cheque or cheque bounce occurs when a cheque that is presented in the bank is returned unpaid. It could occur due to insufficient funds in the bank account of the person who issued the cheque or if the signatures on the cheque do not match with the original signature of that person. You can proceed against the person who has issued such a cheque under various provisions of law. The most important and useful provision to consider is Section 138 of The Negotiable Instruments Act. I will help you