Gave 5 lc loan to friend he issued me cheque and it bounced what to do

813 votes

Hello,
As per the information given you can file a case u/s 138 NI act against your friend before the appropriate court having jurisdiction.
Procedure for filing case u/s 138 NI Act.
-Send a legal notice from a lawyer within 30 days from the date of cheque bounce
-Now You can file a complaint u/s 138 NI Act after the expiry of 15 days from the date of receiving of legal notice, till 30 days beyond which it will be barred by limitation.

For any other information, you can contact me.
Thanks

Advocate Ashish Bansal LawRato

573 votes

You are required to issue legal notice of demand through your lawyer demanding the cheque amount. The borrower has to pay money within 15 days from the day of receipt of notice. If he fails to pay money you may file a case.

Advocate Pankaj Kumar LawRato

973 votes

You don't need to show your money source. You can file the case (either or both 138 case as well as recovery case) against the person. All that would be required for you to show/ prove that you actually gave him the loan of Rupees 5,00,000/-.

Advocate Bidit Kumar Deka LawRato

599 votes

dear client if the cheque is bounced due to insufficiency of funds then you shall send him a legal notice within a period of 30 days from the date of bouncing of cheque.

if that period lapses you would file a criminal compalint case and civil case for the recovery of the case

Advocate Sanjeev LawRato

509 votes

Hello client
I have gone through your query.
In this sinario the friendly loan you have given to your friend.yes you can go legally to recover ur money.but the main question you are asking is depnding on the time wheather you have given this money to you friend as loan when before demonitization or after that.

Advocate Vishwanath Pratap Singh LawRato