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Friend took loan but is not ready to pay or returning calls
09-Mar-2023 (In Cheque Bounce Law)
sir, my friend x was in need of 14 lacc, so on my responsibility my friend y gave money to him but I took responsibility to pay him back. earlier friend x was paying interest but now he is denying interest and y is asking me to pay the interest as I took responsibility. I requested x but he is not promising anything. now y is asking for an entire amount. now how to recover the same from x? I have cheques of the same amount. if I dragg him in court would I win? and how much time it will take? we gave him money for 6 months but after 3 years he isn't paying back. we have cheque and promissery
Money lender person is only responsible but your friend is witnesse beetvine you money transactions. Now you can complain under section 138 the negotiable instrument act. Before magistrate court.
Atul faldu, Advocate
Atul faldu, Advocate
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Adv. Atul C Faldu
Rajkot | 100+ Answers
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You can file complaint u/s 138 ni act against your friend if the cheque of your friend bounces. However before issuing any notice there must be some evidence by which you can prove the transaction. Better if you file the complaint through the person who has given loan to your friend.
But you can not claim that it was a loan transaction on interest.
But you can not claim that it was a loan transaction on interest.
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Adv. Sachin Kaushal
Anandpur Sahib | 25+ Answers
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