- This topic has 14 replies, 7 voices, and was last updated 1 year, 2 months ago by
.
Viewing 5 reply threads
-
Posts
-
-
AI had lent a friend ₹3 lakh in cash and ₹60,000 online, totaling ₹3.6 lakh. We also signed a promissory note on JioSign with his digital signature as proof of the loan. Additionally, I have a blank cheque signed by him.
It’s been nearly a year, and he has not repaid anything. Despite multiple reminders, he keeps delaying.
What legal steps can I take to recover my money? Can I use the promissory note and signed cheque to take action? Any guidance on how to proceed legally would be appreciated.
TIA!
-
-
SCheck whether the cheque is valid. If it is, then encash the cheque and when it bounces, file section 138 of negotiable instruments act.
-
ABut what if he still not pays as there are multiple cases going on him and if i file a case then i will have to pay the lawyer fees too.
I am totally stuck -
-
-
SPresent the cheque in your bank for payment. Once it bounces back, file a criminal complaint either the police after sending a letter to his last known address demanding payment.
-
ABut what if he still not pays as there are multiple cases going on him and if i file a case then i will have to pay the lawyer fees too.
I am totally stuck -
-
-
DHi. I’m a lawyer here. Since you asked for guidance to proceed legally, every legal action comes at a cost, even if it’s bare minimum. You should definitely deposit the cheque, and send him a Section 138 notice once it’s dishonoured, to begin with. See if he pays up within 15 days of sending the notice, failing which you’ll have another 30 days thereafter, to file the complaint. But send it only if you’re mentally ready to file a complaint later, as if you don’t file the complaint within 30 days after the lapse of 15 day period, you’ll lose the right to file it post that. But that’s the most effective legal remedy you have, as on date.
-
FExcept that the cheque has 3 months validity. So you can bounce the cheque again. Send another legal notice and then file a case within 30 days of the subsequent notice. But you can only do this a few times until the cheque validity runs out.
Also giving loan of more than 20K in cash is prohibited under income tax act and can make you liable for penalty/prosecution. If the lawyer of the other party is even half smart, he will advise his client about the same and get your penalty/prosecution started once 138NI case is filed.
-
DWhat you’ve written is correct but there are several riders to it, which are best discussed one on one. Thanks.
-
AThis haa let me go into more thinking now, as i cannot afford to lose this money
Please it will be really helpful if you can suggest any way out if the other party files the complaint against me
As i havent asked any interest on it
-
-
-
-
-
-
Viewing 5 reply threads