437+ Lawyers are online 
Loan non repayment and interest
21-Mar-2025 (In Cheque Bounce Law)
I have given loan to my friends now he cannot repayment loan and interest
Send a legal notice demanding repayment. If a cheque bounced, file a case under Section 138 NI Act. Otherwise, file a summary suit for recovery. If fraud is involved, complain under Section 420 IPC. Kindly give more facts so appropriate legal advice can be given.
Helpful?
Adv. Mrunmayi Kotawadekar
Mumbai | 25+ Answers
CONTACT NOW
In this situation you can ask your friend to enter into a MOU for stating the date of taking loan and the date of repayment of loan with interest, if your friend agrees to it.
You may use this agreement in future to file civil case for recovery of money against your friend. However, if your friend has already given you the cheques for loan repayment, then you should put the same in your bank and send a legal notice as soon as the cheque is bounced.
in case you require further legal assistance in your case, you can approach me.
Helpful?
Adv. Shreyas Jain
Mumbai | 100+ Answers
Chat
If the friendly loan is given to the person who is your friend who is not ready to return thn you can initiate with legal process, send a legal notice if the matter get resolve well and good but if not thn need to proceed with the case
Helpful?
Adv. Mahrukh Khan
Mumbai | 100+ Answers
Chat
Legal Remedies
If you have a Cheque: If your friend gave you a cheque and it bounced, you can take legal action under Section 138 of the Negotiable Instruments Act, 1881. Send a legal notice within 30 days of the cheque bouncing.
If you have a Promissory Note: You can file a civil suit for recovery of money.
Without Written Proof: If there is no cheque or promissory note, you can still file a case based on bank transfers, messages, or witnesses.
Helpful?
Adv. Mahesh Bhiku Kale
Dombivli | 5+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Cheque Bounce lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
