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Anticipated Cheque Bounce of 40 lakhs
24-Feb-2024 (In Cheque Bounce Law)
My friend gave me 40 lakhs rupees for trading on his behalf and we did a contract for it. The contract is done as him being a lender and me as borrower and we have showed the amount as loan taken. I gave him post dated cheque as security for the amount.
Now I am unable to pay him the amount and he is saying that he will submit the cheque which for sure will be dis honoured.
I have asked for some time and I will give the money in some instalments but he is not ready for it,can I be jailed for it
you may send a legal notice that the cheques were given for security purposes and he should not deposit the same in the bank. you also mention in the notice that the transaction amount was also given for trading purpose.
you may attach details of trading account
that might be your defense if he files coplaint against you
you may attach details of trading account
that might be your defense if he files coplaint against you
Helpful?
Adv. Jagrati Chinchale
Nashik | 5+ Answers
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Well, let him file a Cheque Bouncing Case, any expert Defence Lawyer will defend you including me by putting its best efforts, knowledge and experience. We can legally run this case as long as you become financially capable to repay his money by buying time from the Court legally.
Helpful?
Adv. Pankaj Bajaj
Mumbai | 500+ Answers
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In these circumstances it is advisable for you to send him a legal notice through the counsel and seek some time and ask him not to tender the cheque for encashment. By doing this you will be secured.
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Adv. Mohd Atik Iqbal
Akola | 500+ Answers
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Hello
First of all dont worry I will explain to you what will happen
when your friend will deposit the given cheque and due to insufficient balance if the cheque gets dishonour your friend can file a complaint against you and may institute a suit against you under section 138 of the Negotiable Instrument Act.
Now answering to you query that wheather you will go to jail immediately ?
The answer for it is you will not be arrested immediately as it is a non-cognizable offence and police cannot arrest you without the warrant from court
and for further information regarding the same you can contact us.
First of all dont worry I will explain to you what will happen
when your friend will deposit the given cheque and due to insufficient balance if the cheque gets dishonour your friend can file a complaint against you and may institute a suit against you under section 138 of the Negotiable Instrument Act.
Now answering to you query that wheather you will go to jail immediately ?
The answer for it is you will not be arrested immediately as it is a non-cognizable offence and police cannot arrest you without the warrant from court
and for further information regarding the same you can contact us.
Helpful?
Adv. Tushar Ghate
Mumbai | 5+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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