friend not returning money
Dear Sir, I gave Rs 5,00,000 to my friend for business and he gave me cheque of same amount for guarantee.And he promished that if i need my money back than let me know 1 month advance so that i will return your money.And when i asked my money back before 2 months than he is not ready to pay the amount.So please suggest what should be the path forward.As i have cheque in hand.
First you should fill up the cheque and present it in bank for encashment. If it bounces then issue a lawyer's notice for recovery of money under 148 NI act, and file a case for his prosecution for cheque bonce if he does not honor the notice.
Simultaneously, file a case for recovery of amount advanced along with interest and the amount you incur on availing the services of your lawyer.
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