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Jeweller not returning my gold after the repayment of the loan
04-Jan-2023 (In Criminal Law)
i have given a loan of 500 gms of gold to a jeweller few months back at interest of 1% pm which was also purchased from him for 15lacs in cash....which he is not returning now all i have is a blank signed undated cheque and a reciept of recieving gold whaat to do nnow....???
Hi,
From the facts that you've mentioned in your case, it is a fit circumstance for filing a case under Section 138 of the Negotiable Instruments Act. In this situation, you have the cheque in hand which after giving notice to the opposite side, you may encash. In case the cheque bounces due to insufficient funds or payment stopped by drawer, you may proceed to send the jewelleries a legal notice thereafter. After the period of expiry, a case can be registered against the party. It's sufficient to note that as of yesterday a bill has been introduced in the parliament to grant earliest relief to the complainant. A proposed grant of upto 20% of the entire amount must be paid by the complainant in case he is seeking to defend himself. Do let me know if you need clarifications.
From the facts that you've mentioned in your case, it is a fit circumstance for filing a case under Section 138 of the Negotiable Instruments Act. In this situation, you have the cheque in hand which after giving notice to the opposite side, you may encash. In case the cheque bounces due to insufficient funds or payment stopped by drawer, you may proceed to send the jewelleries a legal notice thereafter. After the period of expiry, a case can be registered against the party. It's sufficient to note that as of yesterday a bill has been introduced in the parliament to grant earliest relief to the complainant. A proposed grant of upto 20% of the entire amount must be paid by the complainant in case he is seeking to defend himself. Do let me know if you need clarifications.
Helpful?
14+
14+
Adv. Anuj Nair
Delhi | 200+ Answers
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You can file criminal case against him. But you must have proofs of repayment of loan, receipt/bill of purchase of gold in original, receipt of custody of 500gm gold from the jeweller and any witness.
Helpful?
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Adv. Ashish Kumar Kulshreshtha
Delhi | 25+ Answers
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Please understand that you made transaction in cash and therefore the moment you legalize this transaction their would be tax implications. But you have no choice. Immediately present that cheque to the bank after informing the jeweller. In case he is not compromising then immediately present that cheque to the bank because you have no choice.
GOPAL VERMA
ADVOCATE ON RECORD
SUPREME COURT OF INDIA
GOPAL VERMA
ADVOCATE ON RECORD
SUPREME COURT OF INDIA
Helpful?
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Adv. Gopal Verma
Delhi | 100+ Answers
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