Delay in returning money borrowed 4 years ago
19-Apr-2023 (In Recovery Law)
I would like to know the procedure of recovering money from relative which he borrowed long ago. (May be 4 years ago). Recently he gave a cheque in the month of March 2016 and asked to deposit after weeks time. Till today he keeps on prolonging to have cash in his account, ans asking me not to deposit and keep waiting.Hence I have decided to take this legally and recover the money. When ever I contact he will pick some times and will not pick sometimes. But when ever he picks my call, gives reason saying not today, may be tomo. etc. Just today I have dropped the cheque in HDFC ATM dropbox.
Hence, I advise you to follow-up with the Bank first and see if the cheque is cashed or not and then proceed accordingly. My advice is based only on the limited information provided by you in your query. It is not my final legal opinion.
You are lucky you got the cheque and you deposited. Remember any suit for recovery proceedings limitation time is 3 years. In the event, if the cheque returns as "insufficient funds" you can issue a legal notice through an Advocate within 30 days from the receipt of the Bankers memo which will come as "insufficient funds". In that legal notice you have to give him time of 15 days to return the money due under the cheque, if he does not pay, then you can initiate 138 NI proceedings for recovery
of money.
Pratap, Advocate.
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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