quesCheque 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?

  • ansIn 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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