Gave money to a person. Now he is making excuses to pay
One of my friend has borrowed 10 lacs last year. For that he gave me his vehicle and cheques/demand note. Now for repayment he is making excuses and not returning money. What should i do?
Your query is silent as to whether an agreement was executed between you and the borrower prior to the money being lent to him.
If such an agreement exists then file a recovery suit in the concerned civil court.
If no such document exists then deposit the cheques in the bank. Once the cheques are dishonoured you may prosecute him for the offence of cheque bounce which carries an imprisonment of up to 2 years.
A prosecution for cheque bounce needs to be preceded by an absolute compliance of all the legal framework governing it.
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