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friend not returning money
01-May-2023 (In Cheque Bounce Law)
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.
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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Adv. Siddhant Sharma
Delhi | 200+ Answers
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These type of recoveries cannot be made by stereotyped formulas. You need to consult your advocate personally. The normal process is to induce him to make payment in parts. If he s not ready, you need to issue notice and enter into litigation.
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Adv. Rajiv Sharma
Chandigarh | 100+ Answers
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you need to send him a legal notice on the basis of your facts. Let him admit or deny your contention and on the basis of that further remedy for recovering your money can be initiated by filing appropriate proceedings in this regard
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Adv. Deepak Verma
Chandigarh | 100+ Answers
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Hi
Bank statement is valid proof of lending money. So go ahead and file a criminal complaint on your friend in the nearest police station.
You can also file a Summary trial suit in the court under Order 37 of Civil Procedure Code. Please note that summary trial suit is a fast track case unlike other civil cases and in general these cases are decided within 8-12 months.
Bank statement is valid proof of lending money. So go ahead and file a criminal complaint on your friend in the nearest police station.
You can also file a Summary trial suit in the court under Order 37 of Civil Procedure Code. Please note that summary trial suit is a fast track case unlike other civil cases and in general these cases are decided within 8-12 months.
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Adv. Rajagopalan
Hyderabad | 500+ Answers
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Dear Client,
You must obtain promissorynote or other document evidencing your lending of amount. You can file a criminal case against him on the basis of bank statement stating that he borrowed on the basis of you lending amount through bank transaction and now he is cheating you by not paying the same. Take legal assistance at your place.
You must obtain promissorynote or other document evidencing your lending of amount. You can file a criminal case against him on the basis of bank statement stating that he borrowed on the basis of you lending amount through bank transaction and now he is cheating you by not paying the same. Take legal assistance at your place.
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Adv. Sistla Rama Krishna
Vijayawada | 400+ Answers
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you have the option of initiating legal proceeding for recovery of suit if the time lapse is within 3 years. otherwise it will be barred by limitation. the friends can give evidence - be witness to the loan transaction in the case.
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