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I received a cheque as Security purpose fo the amount which i gave
04-Nov-2023 (In Banking / Finance Law)
Hi Sir/Madam. I had given an amount to my friend for a small period. For that i took 2cheques with a bit more amount as safety. Now the time ends. He is telling i will not give you a single rupee, do what ever you want. I know how to face if tge cheque bounces. So now i am with a total confusion. Please suggest me what can i do furtger to recover my money. I am sure he will not return my money. Please help me out
Send the cheques for collection through your bank. If cheques will bounce, bank will issue you a memorandum stating reason for dishonour. Later consult an advocate and he will issue a notice first. Later he will guide you further procedure. Don't worry, its simple procedure.
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Adv. Prasankumar R Tukkappanavar
Bagalkot | 25+ Answers
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You can present the cheque for honouring in the bank. Get the endorsement and then you can initiate action as per law. Further at no point of time you should disclose that you received the check for security purpose
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Adv. Anantha Kumar
Bangalore | 100+ Answers
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