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Stop payment of cheque on loan
30-Jul-2023 (In Cheque Bounce Law)
Resp sir /mam
Myself sangita. I have query regarding stop payment of my chq. Party had issued me pdc in the month of may for july and now party had made a stop pay for the same.
It is been agreed in both of us to pay me 5% on the sum of loan given by me to the party for the purpose of business and party will pay me monthly 5% on the same. Agreement of the the same is made on stamp paper of rs. 100/- Now please tell me what should i do i have given the party loan of rs. 10 lac. Party says i will pay u only principal amt. Please guide.
Thanks
if you do not have a money lending license you cannot recover interest. take the principal amount in that case. if you have a money lending license you can sue the party for principal and interest.
Helpful?
Adv. Rohan Rathod
Pune | 25+ Answers
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Please don't worry.
Where are you located ?
where is the other party located ?
We will have to see and check the agreement for the exact legal analysis and further legal advise to be given to you in the above matter.
Where are you located ?
where is the other party located ?
We will have to see and check the agreement for the exact legal analysis and further legal advise to be given to you in the above matter.
Helpful?
Adv. Namitabh Kothari
Mumbai | 400+ Answers
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please call and discuss....we can see your documents and advise you as to what best can be done...we'll need to see your agreement...it'll have to be ensured that the notice is sent within 30 days of the date it bounced...you can take appointment and come for a consult
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Adv. Sunita Bafna
Mumbai | 100+ Answers
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