Friend borrowed money now he is Giving Reasons to not return the money
05-Oct-2023 (In Recovery Law)
Hello Sir, My Office Friend/Manager, took Rs. 3,50,000 for his personal reasons and was promises to return the money in 4 months. It is clearly mention in email that he was send. I was done the online translation i have its Bank statement. He also provide 7 checks of 50,000 each for the security. 30th-Sept-2017 was first check due, but he call me on 28th not to deposit the check and he will give 70k on 5th. But till date he was not send any amount. Please let me know what should i do?
We can file a summary suit in the civil court for recovery of the money simultaneously we can also file a criminal complaint of fraud for recovery of the money. The money can be recovered with 18% interest per annum along with litigation cost
See cheque is valid for three months from date entered you can deposit cheque any time you feel that your friends is not paying amount and not keeping his promises and if cheque nonces then you may issue legal notice. As of now you may wait for some time if he has any financial crisis.
You can deposit checks in bank. If it is not honoured then you can file complaint against him under section 138 of N I Act. Also you can file summary suit for recovery of amount against him.consult the advocate with papers
Since you have a written evidence of his acceptance of liability, you can proceed against him by filling a civil recovery suit or else you can file a cheque bounce case against him after dishonoring of the cheques given in exchange of his legal liability. For any further clarification and detailed line of action kindly book a consultancy call.
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