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Gave a loan to a couple but still not paid back by them


20-Dec-2023 (In Recovery Law)

I have agiven a loan of Rs.18 lakhs to a couple (Rs.10lakhs to husband and Rs.8 lakhs to wife) returnable with in a period of 6months after entering into 2 separete agreement on stamp paper in october,, 2013 on interest but it has not been repaid .I have a blank undated cheque duly signed by wife.can I fill in entire amount of Rs.18 lakhs and present the cheque. In case of cheque getting bounced, sue them under 138 for recovery. Please advise..

Answers (3)

Answer #1
583 votes
Sir, First the cheque date is valid or not, after that you can present the cheque but in that husband and wife can prove that he/she repaid the loan amount according to the agreement which is specified by you in your question, so first you clear me that the laon which was paid by them is in cash or cheque or DD, because the amount is clear and your asking for an interest, so at the end clear all this which i asked so according to this you can go for complaint and you have to send first a legal notice.
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Advocate Sandeep Singh

Adv. Sandeep Singh

LawRato Delhi | 25+ Answers
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Answer #2
825 votes
Since you have entered into two separate agreements with the husband and the wife, it is not advisable that you seek payment of the entire amount i.e. 18 lacs from the wife's account. If you can determine that the account is a joint account, then you may proceed. Was this cheque given under the agreement or it is separate? Is there a mention of this cheque in either of the two agreements? The answer to these questions is fundamental to understand the possible steps that you can take. From what it appears, you ought to separately move against the husband and the wife if there are provisions for the same under the agreements. Additionally, you can file a suit against both the husband and wife and seek repayment of the principal and the interest amount.Regards
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Advocate Shikhar Khare

Adv. Shikhar Khare

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Answer #3
528 votes
If possible first approach them and first ask for promissory note. Than if you want to fill the check you can fill it. Under NI Act. The factum of lending money on interest you can not show for proceeding to be initiated under NI Act. You can show it as friendly loan only. The legal liability is very important factor in the cases of NI Act.
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Advocate Rohini Kumar

Adv. Rohini Kumar

LawRatoDelhi | 5+ Answers
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