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I lent money to a colleague and he promised me will return back the money within 1 year with the int
16-Oct-2023 (In Cheque Bounce Law)
I lent money to a colleague and he promised me will return back the money within 1 year with the interest lent him 14L he returned some money before lockdown but since then he is not taking my calls Can I claim just 14 L or my interest as well he gave me his cheques and his wife's cheque as a security and her wife was also involved in all this are the court's taking action on such cases and how long it would take
You have an option to claim the principal alongwith the interest. You can present the cheques in the bank and upon dishonor initiate legal action against both of them as per the provisions of Negotiable Instruments Act.
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Adv. Anubhav Kathuria
Delhi | 1000+ Answers
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hello sir, I have gone through your query. well in this there are two options that you can opt to. 1) you can get the cheques bounced and file a cheque bounce case.
2) you can file a recovery suit.
both the cases are different in nature and so would be its impact.
for further help or query you can approach me. hope this was useful.
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Adv. Megha Mary Thomas
Delhi | 100+ Answers
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yes courts are active and cases are being filed. Since its the dishonoured cheques complaint, it will be filed under section 138 NI ACT and you can also claim interest amount if there is an agreement to that effect. otherwise your cheque amount is totally secured. What can be done is that the cheques you have as security can be also deposited.
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Adv. Yuganshu Sharma
Delhi | 700+ Answers
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