4 min read · Personal Finance
Section 138 – Can a Notice Lead to a Legal Suit if You Default on EMI Payments?
When you borrow money—whether through a loan or a credit card—timely EMI payments are crucial. But what happens when you miss payments and receive a formal notice? Can this escalate into legal trouble under Section 138 of the Negotiable Instruments (NI) Act? Let’s break it down in simple terms.