Inability to pay off debt as person who duped 2.5cr in jail

i have been duped for 2.7 cr in my business 2 years back, and the person who did this is in jail and is in no condition to give me my debts. the material i sold him was taken from various other distributors, with whom i am doing business from last 20 years. now they have filed cheque bounce cases against me, i want to pay them, but i can not pay in full as well i cant pay in one stroke,shop is in my mothers name,and we are much panicked because of these cases in various cities. My questions 1 Will court agree if i offer to pay in installments that too not full amount, and installments will also be of much lesser amounts than the cheque amounts are? 2 If not, will they sent my mother to jail, we being genuine? 3 How much maximum time court can offer us to pay the amounts? 4 Will there be any consideration of our problems, our lives and our future in the cases filed against us? i cant pay in full because i dont have any property left neither any other income source,

Answers (2)

303 votes

1. Court may agree. Your lawyer will need to strongly put up your case.

2. No Mother will not be jailed. Court will have consideration.

3. Granting of time will subject to agreement between parties.

4. Consideration will be given but your Lawyer will be strongly required to advocate facts on your behalf.

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115 votes

Dear Friend,
Its a bad sign of fortune that you have issued cheque and the respective cheque will be bounced back as i can see its a matter in different state better is you can call your client and pay them little amount and issue the remeaning amount fresh cheque

Another Option is go for Insolvency

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