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Father invested money stop receiving interest how to ask money back


15-Mar-2023 (In Recovery Law)

My father has investd 2lacs with my cousin for invest purposes and for which he receives 2% per month interest. Till recently my cousin was giving him the promised interest of 4k per month however he has stopped giving that amt since the last 6 months. He has a agreement for this transaction on a bond paper and has also given a undated chk of 2 lacs (principle amt) and 3 chk of 4k each. However when my father asked him to return the principle amt of 2lacs along with the pending interest, my cousin has refused to do so. He even abused my father for asking him to return the amt. What shuld we do

Answers (2)

Answer #1
991 votes
There are two options. One is depositing the cheques in bank and in case of dishonour file a criminal case. Simultaneously if u want u can file a suit for recovery with interest. In cheque bounce case ur father should prove that he had sufficient income to lend the said amount. Then it would be easy to convince the court.
Answer #2
957 votes
You can present the cheque for your 2lacs. Before that when your father has invested?? when your cousin gave the cheque? and what is the date of agreemnt?? and it is better to consult any advocate before presenting that cheque.

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