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I gave credit to my friend as a help (Loan money recovery)
05-Sep-2023 (In Cheque Bounce Law)
Hi sir/madam,
I gave 4 lakhs to my friend in the period of September 2018 to December 2018,as a credit, he said he will return back in 2 months. its been 10 months completed he is not giving my money back.He gave me 2 cheques worth 3.5 Lakhs it got bounced in bank due to insufficient funds. Now he is saying i will give back your money don't worry but it takes time.i can give you only when i have sufficient funds with me, i am totally undergoing mental torture daily in this issue. I have all bank transactions of amounts which i transferred to his bank account.out of 4 lakhs he gave me 50 thousand.Now he should give me 3.5 Lahks as per cheque written amount.Please suggest me what should i do and how to proceed further to come out of this.
first you should send legal notice with in 30 days after bank return memo and file a NI complainant and let the case continue, if in mean time if he comes to compromise and pays amount you can withdraw the case as compromised.
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Adv. Arshad Ahmed
Hyderabad | 100+ Answers
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you need to send a legal notice to your friend saying the cheque had bounced and ask him to pay the amount or else you would take legal action against him. if you fail to send notice in 30 days you cant go to court for cheque bounce. so first send the legal notice. if your friend still doesn't respond or doesn't pay you, then go to court.
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Adv. H Ravi Shankar
Hyderabad | 25+ Answers
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you have to send him a notice and then if hi still do not pay the amount then within one month you have to file case upon that person for dishonour of cheque after filing of the case still if he does not appear in the court then arrest warrant will be issued on his name
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Adv. Akshay Gupta
Hyderabad | 200+ Answers
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