The investor should file a written complaint with CMIC stating the grounds for the complaint and attaching thereto documents to support the claim. If CMIC finds that there is probable cause for the complaint, CMIC will commence investigation.
A default judgment is a judgment entered by a civil court when a defendant does not respond timely to a plaintiffâs lawsuit brought against him.
What is 'Default'. Default is the failure to pay interest or principal on a loan or security when due. Default occurs when a debtor is unable to meet the legal obligation of debt repayment, and it also refers to cases in which one party fails to perform on a futures contract as required by an exchange. BREAKING DOWN 'Default'.