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How to recover money when friend's cheque gets bounced


23-Mar-2023 (In Cheque Bounce Law)
sir, I lent 1.5 lakhs to a person who in turn agreed to pay interest regulary. for few months he paid interest and then stopped paying. when i asked for repayment of principal he simply keeps dodging. so i presented two cheques which he gave me for the above said amount. one cheque was bounced due to insufficient balance and the other was bounced since he stopped payment. all our transactions was through online. what shld i do now?
Answers (3)

Answer #1
898 votes
you have option to file cheque dis honour case..after returning cheque, immediately you take notice to opponent by your counsel or Advocate within 15 days... if you are not received any reply from opponent hence you immediately file complaint before magistrate against accused....
Answer #2
506 votes
All your transactions have been online, hence you've solid proof that you have given money. You just need to have a proof that there was a mutual contract with regard to interest being charged. You are supposed to issue a Legal Demand Notice to the friend asking him to pay the money within 15 days. After which, you can file 138 NI Act Case before any Fast Track Court. You can make use of both cheques in the same case. He cannot dodge the case, if he does, Arrest Warrant shall be issued, as it is a quazi-criminal case. Get in touch with me or any lawyer with whom you feel comfortable to go ahead.
Answer #3
652 votes
You could have filed cheque bouncing case against your friend. Also we can try to lodge a police complaint and recover the money. If you dont want to come to criminal court or police station, you can file a civil case. Surely you can recover the money because you have all the proof you need in the Court. For further advice you can contact me.

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