You accept non specified the nature of the electrical load filed against you, as well as hence our reply shall survive based on 2 probably scenarios, viz. electrical load on dishonour of safety depository fiscal establishment fit as well as a civil accommodate beingness filed against you lot for recovery of debt.
In the UAE, banks commonly collect cheques from the debtors every mo safety against loan, as well as they reserve the correct to submit such depository fiscal establishment fit for encashment for recovery of dues from the debtor. If the depository fiscal establishment fit gets dishonoured, the banks accept the correct to file criminal illustration against the debtors concerned. This is inwards accordance amongst Section 401 of Federal Law No. three of 1980 which reads every mo follows:
"Detention or a fine shall survive imposed upon anyone who, inwards bad faith, gives a draft (cheque) without a sufficient as well as drawable residuum or who, after giving a cheque, withdraws all or business office of the balance, making the residuum insufficient for village of the cheque, or if he orders a drawee non to cash a depository fiscal establishment fit or makes or signs the depository fiscal establishment fit inwards a vogue that prevents it from beingness cashed. The same punishment shall employ to anyone who endorses a depository fiscal establishment fit inwards favour of closed to other or gives him a bearer draft, knowing that at that spot is no sufficient residuum to laurels the depository fiscal establishment fit or that it is non drawable."
Hence, if you lot issued cheque/s inwards favour of your depository fiscal establishment as well as the same got dishonoured upon submission, nosotros empathize that the depository fiscal establishment had afterwards filed a criminal electrical load against you.
It may too survive noted that your depository fiscal establishment would reserve rights to simultaneously initiate a civil accommodate against you lot for recovery of dues from you.
Since you lot are interested inwards village of your dues against the bank, you lot may take in to appoint a legal practitioner inwards the UAE, who may on your behalf contact as well as negotiate amongst the depository fiscal establishment for an option repayment plan, as well as too for withdrawal of the complaint/s filed or civil suits initiated against you.
In the number the depository fiscal establishment agrees as well as provides a repayment innovation for you, you lot may survive able to rehabilitate your outstanding loan as well as larn it out of default. Once your dues against the depository fiscal establishment are settled, your legal counsel may farther obtain a 'no dues certificate' for you lot from the bank.
Know the law: Detention or a fine shall survive imposed upon anyone who gives a draft (cheque) without a sufficient as well as drawable residuum or who, after giving a cheque, withdraws all or business office of the balance, making the residuum insufficient for village of the cheque
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