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How to recover lent money have promissory notes and cheques
11-Sep-2023 (In Recovery Law)
My father gave money to my relatives and his friends but they are not paying back due to soft corner of my father, we are middle class family that money is our hard earned money we are totally broken. Is there any way to get that money,they are individually five members we have promissory notes and cheques from all of them. How should we recover our money?
As you mentioned you have promissory note and cheque of your relative. I would advise you if it is a undated signed cheques present those cheque in bank and if the cheque is honoured you will get back your money and if the cheques got dishonor you have to file a criminal compliant under NI act which a cheque bounce case and you will get the compensation 10 times more than the cheque amount. But remember you have to file the cheque bounce case within 1 month of your cheque bounce.
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Adv. Shanker Das
Hyderabad | 25+ Answers
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