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unpaid EMI can bank issue legal notice
06-Jun-2023 (In Recovery Law)
Dear sir, I have taken a loan from someone and he has already issued a notice to me under 138 NIA . I have partly paid my due amount (out of 10,000 i had paid 5000) . Can my lender issue another notice to me for the remaning amount (5000 rs) ? please help it is urgent
Yes a recovery notice can be issued. Moreover a civil suit for recovery of money can be filed on the basis of cheque. Cheque being a negotiable instrument. Moreover you have acknowledged the debt by making part payment.
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