Legal Question in Criminal Law in India

Dear All,
I was working in a MNC. Based on that i've received a personal loan from HDFC BANK by last five years back. Based on my regular payment, i've been asked by them for another loan. They've foreclose the existing loan and gave me fresh loan. This is 60 months tenure. I've lost my job last two years back. Eventhough i've repay the loan for 21 months regularly. But, unfortunately i'm unable to honour the cheques at present. They've filed a cheque bounce case u/s 138 N.I. act and send me court summon. At present my position is very poor & i earned Rs. 5,000 approximately by doing day today work. What should i do?. Kindly advice me.
Thanks and regards,

Asked on 3/22/13, 1:53 am

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22.03.2013

Dear Sir / Madam,

(Chennai, Tamil Nadu)

You need to immediately repay the loan. Till then the bank is going to keep on harassing you to settle it.

Since you have lost your present job, you may offer to work in the bank to repay the loan from your salary.

Regards,

FCA Prashant Chavan

Mumbai

(You can also mail me for any further on-line advice at [email protected])

Answered on 3/22/13, 6:20 am

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