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Legal action to be taken in order to recover money
14-Jul-2023 (In Recovery Law)
I gave a cash loan of 25 lacs to a person . & as a security he has given me cheques for it . Now the person has defaulted in returning the money. My question is what options do i have 1. section 138 : I have presented the one cheque which was dishonoured . now what i need ot know is whether i send a notice stating all the cheques that i have or go with a different case of every bounced cheque. 2. how can i file a case in section 420,467/468 and 471?
138 is for legal enforceable debit only. 25 lacks you will have to show in books how you gain it when you gave it plus it is still unpaid all these things plus if any agreement persist then it would be ok you all have to frame the matter in different way or else the remedy lies is only money recovery suit which is time consuming please consult an expert before entering anything in form of notice
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Adv. Manish Kumar Tiwari
Bhopal | 100+ Answers
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Every separate bounced cheque causes a different cause of action, so u may mention in notice about the entire loan transaction of 25 lacs and all cheques, but can institute 138 case only against the bounced cheque and not against un bounced cheques. But in 420 complaint, after getting all the cheques bounced, u can proceed to file complaint. 468 471 etc. Forgery is not made out.
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