Claiming huge compensation for cheque bounce

I have taken a loan of 500000 from a individual in cash and i have given my blank cheques and my wife's too. Now he is asking to pay him 40lakhs rs instead of 5lkh what should I do now. I

Answers (2)

First i dont understand your query please let me wheather the cheques has bounced or he is demanding 40 laks money. To return you a blank cheque. So please provide full information and then only i will help you in this natter.

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Person who for you taken लोन this loan amount is cash amount and this man have no any agreement with you and that man. Loan agreement not done than he can not get money from you by 138n.i.act case. There is no loan agreement with you than credit not file case against you and your wife. So डॉट very this matter.

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