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How to recover money lent to a business person?
04-Mar-2023 (In Cheque Bounce Law)
sir I gave two lakh rupees to one business person in 2012 with Bank cheque security and I am getting intrest every month till the date.Now I want to get back the principle amount of two lakh. but he is not willing to clear .what is the legal proceedings for this
Consult and discuss briefly and if you have his cheque for security .. That is old Cheq or new one , we should check, consult along with all the papers if you and Cheq also. Consult and file appropriate suit to recover money civil and criminal.
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Adv. Sharanagouda S. Patil
Bangalore | 200+ Answers
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Since you are holding the cheque issued by him as security, initially you issue a letter to him requesting him to repay the hand loan given by you in the year 2012. Also mention in the letter that, on his failure to repay the amount you will be constrained to deposit the cheque for realisation. Ask the person to repay the amount within 30 days of time failure on his part to do so mention in the letter that, you are going to present the cheque issued by him as security for encashment.
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Adv. Dilraj Sequeira
Bangalore | 25+ Answers
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First thing is his writing and signature on the cheque. Secondly you should preferably have at least one proof of having lent the amount to him, such as some writing. Thirdly, his address should be known to you. Then you go to an advocate who does not mess up things, because the limitation section of chequeer dishouner case is tricky . You also have recourse for recovery under civil Laws.
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Adv. S.K Prabhakar Shetty
Bangalore | 500+ Answers
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You can send him a legal notice clearly mentioning your intention to with draw the security amount. Feel free to contact me with all the documentary proof at your hand earliest. Is there any Agreement between you?
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Adv. Geetha D Philip
Bangalore | 100+ Answers
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