Legal Question in Banking Law in India

I have taken an education for some PSU Bank and my father is the coobligant who is working as principal to one of the college.DUe to some reasons I am not paying the installments and my father is also not paying.At the time of taking loan bank had taken post dated cheques which were given by my father.These cheques belong to my fathers account.Bank issued notices to us reagarding payment of installments and we didn't paid until now.Now bank is saying that they are going to present the cheque given by my father.Whether the cheque given my father if get bounced,whether they can proceed under sec 138 against my father.Please guide me

Asked on 7/29/13, 7:00 pm

3 Answers from Attorneys

Fca Prashant Chavan Expert Edge LLP


Dear Sir / Madam,

Today, you just cannot afford the luxury and privilege of taking a bank loan and not settling it. The bank is here to do business, and they do not attach any emotions or sympathy to their customers - because if they do it, they will soon have to close shop. The bank will certainly file civil (FIR in the local Police station) and criminal proceedings (cheque bouncing u/s 138 of the Negotiable Instruments Act) against both, you and your father. It's in your interest to ensure that all the forthcoming Post Dated Cheques (PDC's) are honoured, to minimize your risk.


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Answered on 7/29/13, 7:26 pm

dear client......

contact me at [email protected] with full details

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Answered on 7/30/13, 2:22 am
J. Radhakrishnan independent Practice

Your,father,if he wants to escape from prosecution for bouned cheques he must repay the loan. No short cut is possible.

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Answered on 7/30/13, 6:59 am

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