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Cheque bounce case of 10lakh against me most probably
21-Apr-2023 (In Cheque Bounce Law)
I become guaranter of my friend for a 10 lakh personal loan from a person on affidavit now he is not paying the money back so there will be a case against him for not repaying also there will be a case on me because I am garanter but I have 26 lakh rupees cheque from that same friend can I use that to get through this situation or any suggestion by which you can help me
Query perused. So far as loan taken by your friend is concerned in which you stood as a guarantor, they can very well implead you as a party to the case. So far as you holding a cheque of 26 lac is concerned you can avail a legal remedy by filing a complaint case under section 138 NI Act. For further consultancy and legal services you may contact us.
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Adv. Anubhav Kathuria
Delhi | 1000+ Answers
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Hi,
Few details are important in this case. For instance what the affidavit is about, is there a charge of interest against the loan given to your friend. Or is the person has a license to carry on money lending business etc.
Regarding the cheque you have as a security, it doesn’t discharge any liability at this stage because you have not paid as a guarantor to discharge the loan.
I suggest you to consult with all the documents. Feel free to consult me.
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Adv. Kabir Hazarika
Delhi | 100+ Answers
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as a guarantor, there can be no casse against you under Section 138 of the Negotiable Instrument Act (cheque bounce). a case for bouncing of cheque is only maintainable against the person who has issued the cheque. other action can be taken against you as a guarantor
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Adv. Rohan Sharma
Delhi | 200+ Answers
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Dear Client,
As you are in apprehension for liability for, against non payment by your friend for loan from a friend on a affidavit, where your friend has failed to repay in that case you as Guarantor has legal binding for the payment assured , yes you may disburse such liability putting those cheques for encashment firstly in your bank then transfer to the account to which you are guarantor.
You, should intimate your friend by writing that your going to pay his liability as you are in guarantor and such cheques are lying with you and you are going to put in respective banks. For further legal discussion and needful action you may contact from here.
Thanks
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Adv. Sanjay Kr. Jha
Delhi | 200+ Answers
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As a guarantor, you have to pay the default amount in your personal capacity. The same you can recover from your friend any time in the future. However, since you are a guarantor it is mandated under law that you pay the amount when any default occurs on behalf of your friend, irrespective of the source of payment.
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Adv. Rhea Luthra
Delhi | 50+ Answers
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