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Can bank misuse blank cheque given for other loan
03-Jul-2023 (In Cheque Bounce Law)
I want to discuss that I have taken a Loan(A) from SBI in which my mother is a gurantor.Due to some reasons Loan becomes NPA and bank has seased the collateral security. Now I have recived a notice from the bank in which they had used the blank cheques of my mother which she gave to them eight to nine years ago for Loan(B),which she borrowed from the same bank and gave the blank cheques as a security. The same Loan(B) she borrowed ,returned the full payment to the bank. Now that cheques the bank is using for the recovery of Loan(A).Kindly guide me what to do?
No, the cheques given for security cannot be used. you can file a complaint against the bank with the police that the Bank has committed a crime by doing so. and the cheques which were issued 9 years back has no validity as the cheques has a time period within which it has to be used.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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