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Person unable to pay money back what to do
01-May-2023 (In Recovery Law)
I had given Rs 200000 to someone on interest. He has given me blank cheque as security.Now he is unable to pay the amount.. i went to bank to cash the cheque but the account has only 10000 rs. What should i do
Hello sir,
In your case firstly you have to give him legal Notice by stating all the facts but dont ever admit this thing that you have given him for interest, its just for friendly loan and this cheque is for return of money not for security. 2-3 things you must keep in mind which i mentioned- friendly loan and cheque is not for security, then you can file case for cheque bounce. Court is very strict with regard to cheque bounce case.
In your case firstly you have to give him legal Notice by stating all the facts but dont ever admit this thing that you have given him for interest, its just for friendly loan and this cheque is for return of money not for security. 2-3 things you must keep in mind which i mentioned- friendly loan and cheque is not for security, then you can file case for cheque bounce. Court is very strict with regard to cheque bounce case.
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Adv. Naveen Sheokand
Chandigarh | 25+ Answers
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Put the amount 2 lac on cheque and get it bounced. Send the notice to your friend that you are serious to pursue this case. If your friend is sane he will definitely avoid going to jail for 2 years and paying double the amount of money put on cheque.
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Adv. Satish Mishra
Chandigarh | 100+ Answers
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please present the cheque before the bankers for the encashment of the cheque. The cheque shall be bounced and then you can send legal notice served through your and then you can file the complaint under section 138 of Negotiable Instruments Act against that person.
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