PERSONAL LOAN DEFAULTER
11 months ago
MY EMI WAS PAID THROUGH MY SALARY AT THE BANK. MY COMPANY STOPPED PAYING SALARY FROM COVID PERIOD. BANK SENT ME LEGAL NOTICE FOR NON PAYMENT OF EMI.
A.Hello
It is the liability of the employer to pay the salary to the employee on time. However, if he denies, refuses, or fails to do so, then the employee can file a criminal suit for cheating and breach of trust under Section 420 of the Indian Penal Code also, The employee can file a suit under section 447 of the Companies Act which lays down punishment for fraud. The employer can be imprisoned for a period of six months to ten years. Recovery of the full amount of an amount that is three times more than the amount which was originally not paid by the employer.
It is the liability of the employer to pay the salary to the employee on time. However, if he denies, refuses, or fails to do so, then the employee can file a criminal suit for cheating and breach of trust under Section 420 of the Indian Penal Code also, The employee can file a suit under section 447 of the Companies Act which lays down punishment for fraud. The employer can be imprisoned for a period of six months to ten years. Recovery of the full amount of an amount that is three times more than the amount which was originally not paid by the employer.
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A.Dear Client,
Befoe it injures your CIBIL record and make you liable to face legal consequences, Inform your inability to pay EMI against the outstanding amount of the loan to the Bank opting for OTS (One Time Settlement) Scheme, offered by Bank occasionally for the loan defaulters extending some rebate on such kind of bad loan to get the loan settled in the prelitigation stage. You may take a chance if such OTS is now available with the Bank.
Otherwise, you may request the Bank to put up the matter before LOK ADALAT arranged occasionally by Dist. Legal Service Authority to settle the dispute at the pre-litigation stage through the mediation of parties
Befoe it injures your CIBIL record and make you liable to face legal consequences, Inform your inability to pay EMI against the outstanding amount of the loan to the Bank opting for OTS (One Time Settlement) Scheme, offered by Bank occasionally for the loan defaulters extending some rebate on such kind of bad loan to get the loan settled in the prelitigation stage. You may take a chance if such OTS is now available with the Bank.
Otherwise, you may request the Bank to put up the matter before LOK ADALAT arranged occasionally by Dist. Legal Service Authority to settle the dispute at the pre-litigation stage through the mediation of parties
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