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quesInterest through ECS - not credited in account.

Have invested Rupees one lac with a company for which the interest is payable monthly through Electronic clearing scheme directly to our home saving account registered with them. Initially interest was credited. Now since December 2014, they have stopped paying /crediting our account. What should we do? We do not have bounced cheque as proof that they have not paid. What legal action we can take? Please advice.

  • ansYou will need to send legal notice demanding the return of the actual amount as well as the unpaid interest and also the loss suffered by you due to non-payment by them.

    You will have to file case for recovery of money if after the Demand Notice, the company fails to repay the above demanded amounts to you.

  • ansAs the investment is for profit making, it is not a fit case for consumer forum, which provides speedy recovery. You can issue demand notice calling the company to refund invested sum with interest till date. Also you can file a civil suit for recovery after service of notice.

    Advocate Satyendra S Khandekar

      Bharat Nagar, Nagpur

  • Send a legal notice for cheque bounce @ Rs. 1999/- only


    Know More
  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Cheque Bounce Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
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