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Arbitration and cheque bounce case filed by finance company what to do
18-Aug-2023 (In Arbitration Law)
I have borrowed a loan from XX finance in the year March 2014 and again a top up loan in June 2014. Ihave paid continuously for the first for 1.5yrs.topup loan I paid only 6 months.it was referred to Arbitration in 2016. In process I had paid an 10lakhs in sep2016 for both the loans.there has been no order in Arbitration till today. Both the loans are at Arbitration. In April an additional Cheque apart from the regular monthly payments Cheque was presented by the company in March anticipating I had blocked the Cheque in Feb 2016. Now they have filed a suit claiming P&Int for a huge amount. I have to now present sureties and contest the case. My term for both the loans are till2019. Can I go to high court to make my self safe from them. I can clear the loan only in 2018as I have to get some amounts. They have been disturbing my reputation and peace by blackmailing to put a case notice board in my land. It is quitte harassing and unbearable pain. What should I do
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Hi
High courts are appeal courts and will not interfere/ influence the trial courts or the procedures of trial court.
However high court can be approached for modification of trial court order on quantum of surety and may grant you a partial relief like relaxation of conditions etc, provided the high court is convinced that you have all the intentions to repay, but given the circumstances which is likely to ease up in next 5/6 months , you can fulfill all of your obligations.
Hope this information is useful.
High courts are appeal courts and will not interfere/ influence the trial courts or the procedures of trial court.
However high court can be approached for modification of trial court order on quantum of surety and may grant you a partial relief like relaxation of conditions etc, provided the high court is convinced that you have all the intentions to repay, but given the circumstances which is likely to ease up in next 5/6 months , you can fulfill all of your obligations.
Hope this information is useful.
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Adv. Rajagopalan
Hyderabad | 500+ Answers
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