Loaned INR 500000 to an ex-colleague but chenque bounced

Question

Loaned INR 500000 to an ex-colleague but chenque bounced

11-Jul-2025 (In Recovery Law)

Gave INR 5 lakhs to ex-colleague in the time of an emergency with a commitment of return within 10 days. After 10 he kept changing the promise and date and after 2 years he gave a cheque and that too has been dishonored. Seek legal route to recover my hard earned money. I have transferred the money through net banking so I have the proof. I do have proof of whatsapp chat and email in which he has committed to return within days/week

Answers (4)

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Adv. Baddam Aravind Reddy Adv. Baddam Aravind Reddy

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Advocate Pavani Kumari LawRato · Accepted Answer · 2025-07-11T15:08:26+05:30

Answer #2

You can first issue a legal notice under section 138 of the Negotiable Instruments Act for check bonus. Since you have all the proof of payments, dishonoured check and written Communications with you. You have the right to send a legal notice to your friend for immediate recovery. Immediately Consult a lawyer to issue a legal notice to your friend. If payment is not made by your friend file a criminal complaint under Section 138 of the Negotiable Instruments Act. Also consider a summary suit under order 37 CPC for recovery. Consulting a lawyer from promptly is critical to ensure you meet All legal deadlines and maximize your chances of recovery.

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Advocate Rajkiran Govindcar LawRato · Accepted Answer · 2025-07-11T17:13:48+05:30

Answer #3

If u have cheque and bank proof of transaction it’s fair enough to file a case in police station and if police station officer is not filling then we can file directly in the court and fight for your money

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Advocate Sachin Keerthi LawRato · Accepted Answer · 2025-07-14T11:52:36+05:30

Answer #4

You have good proofs to prove your case and get your money back. However you must know that, from the day of cheque bounce you need to issue legal notice within 30 days and there after file complaint within 45 from the date of receipt of legal notice. If the proofs are considered, you have good chance of getting twice the cheque amount ie. 10,00,000/- (ten lakh)

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Adv. Sachin Keerthi Adv. Sachin Keerthi

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