Financier threatening us by got our cheques bounced with wrong amount
23-Feb-2023 (In Recovery Law)
We had taken hand loan from a financier amounting to 13 lacs. His rate of interest is 8%. My brother and my mother had given blank cheques as guarantee. He bounced their cheques for total of Rs.28 lacs. He also got stamp papers signed which mentioned that he had given them money and in case they dont return it he will file a criminal case. We have given him total 13 lacs. We were running case from may 2015. But my family does not know about it. Now the financier says he has got everything ready for fast track and has done everything required for dispatching summons. What i do now?
In your query, I am unable to ascertain if your mother had signed the blank cheques and the stamp papers or not. If the true signatures are on it, then the financier may try to pursue litigation on the strength of these documents. If your mother had not signed on the documents, then you can defend the case on the basis of 'forgery'.
In your query you have mentioned "we were running case from may 2015". What case is this?
If the financier has said that the case is ready for dispatching the summons, then it is likely that he has already filed a case. A summons is a notice from the Court. Please do not avoid it. It is better to take the summons, appear in Court and find out what case has been filed against whom and what are the details.
If you want, you can visit the enquiry counter at the jurisdictional Court and also find out if any case has been filed against you by giving your full name, etc.
Please note that my legal advice is not final and without looking at the relevant documents and without obtaining further information from you, I cannot give a complete solution. For further clarifications, please feel free to contact me.
In your query you have mentioned "we were running case from may 2015". What case is this?
If the financier has said that the case is ready for dispatching the summons, then it is likely that he has already filed a case. A summons is a notice from the Court. Please do not avoid it. It is better to take the summons, appear in Court and find out what case has been filed against whom and what are the details.
If you want, you can visit the enquiry counter at the jurisdictional Court and also find out if any case has been filed against you by giving your full name, etc.
Please note that my legal advice is not final and without looking at the relevant documents and without obtaining further information from you, I cannot give a complete solution. For further clarifications, please feel free to contact me.
Dear Sir / Madam,
Financier has no legal right to threaten/harass you for the recovery of money. we have stronger laws to initiate legal action against financier.
As the financier accepted cheques as guarantee then he has right to present it. But once cheque bounce happen the cheque bounce case must be filled with in 45 days of time according to NI ACT. So, did he initiate any cheque bounce case against you? . If you get summon then receive it and approach a lawyer with the summons.
Financier has no legal right to threaten/harass you for the recovery of money. we have stronger laws to initiate legal action against financier.
As the financier accepted cheques as guarantee then he has right to present it. But once cheque bounce happen the cheque bounce case must be filled with in 45 days of time according to NI ACT. So, did he initiate any cheque bounce case against you? . If you get summon then receive it and approach a lawyer with the summons.
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.
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