Security cheques bounced by lender after making part payment.

I took money from one person 1.40 lac one year back at an interest of 10 percent. In October I gave him half of the payment with interest. After some time I made another half payment with interest. At that time i asked him to lower down the interest a bit. I had given him some cheques as security. He go those bounced and filed the case in court. What can i do now?

Answers (2)

191 votes

Contest the case and adduce evidence wherein you can prove that the cheques herein were issued as security and not in lieu of a legally enforceable loan/debt. There is a presumption that is in the favour of the complainant that a cheque that has been drawn must have been drawn in lieu of a legally enforceable debt unless otherwise proven. So u need to create circumstances which create a doubt in the mind of the judge that probably these cheques were issued as a security and not for a loan advanced.

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117 votes

the loan payment you have the slip of that is important and your cheque date is very crucial because after two payment with interest you have given the cheque to the lender and after that he got bounced and how much he fill in the account in it, one important you have to find that what amount you take and how much you paid clear all the amount in the court

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