Apni Law Staff asked 2 months ago
I borrowed ₹35 lakhs from 12 different people and gave them cheques as security. Unfortunately, I couldn’t repay the loans due to financial difficulties, and the cheques bounced. Now my creditors are threatening legal action under IPC 138. What should I do?
1 Answers
Best Answer
Apni Law Staff answered 2 months ago
You should immediately contact your creditors and try to negotiate a repayment plan. You can also approach the court for time to repay the loans. It’s important to act proactively to avoid potential criminal charges and imprisonment under IPC 138.
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