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Money given via Cash and Returned via RTGS
14-Aug-2023 (In Recovery Law)
My relative requested money to Purchase Machinery for his lab. I had FDR of 4 Lacs , which I withdrawn from Bank and gave him cash(4 Lacs). He purchased the machinery and he has shown this purchase in his ITR for 4 Lacs.
He then took loan of 29 Lacs against his property and returned me the money via RGTS with Interest arnd 4.64 lacs .
Now he has filed a recovery suit against me 2 years after he has done RTGS . He has stated in recovery suit that I have taken a loan of 4.64 lacs in addition he has also mentioned that he has also given me 2.36 as loan in Cash 3 month after doing RTGS.
He has filed total of 7 lacs recovery suit--- 4.64 Lacs as RTGS && 2.36 Lacs in Cash
In court when our lawyer asked him about his purchase of 4 lacs machinery as shown in his ITR by him, he said I got this machinery on loan from the distributor . When Lawyer asked for this bill of machinery which he purchased 2 year back he denied that he is not having the bill.
Will I be able to defend this case ?
A careful perusal of the entire set of documents highlighting the entire chain of events is needed. Defense is strong and you may also file a counter claim. Further and better particulars are needed for an effective opinion.
Helpful?
22+
22+
Adv. Tushar Kumar
Delhi | 200+ Answers
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Since you have already appointed a lawyer, it will only be proper to seek his guidance and advice, as otherwise you may simply spoil your case. So ask your lawyer about it. In case you do not find him proper, change your lawyer.
Helpful?
16+
16+
You will definitely proceed in your case, as the person will have to prove the fact that what was the source from which he purchased the machine. Even if it was cash, from where did he get it as per the prevailing law no one can accept cash more than 10,000 in a day!
Helpful?
10+
10+
Adv. Shreshth Jain
Delhi | 100+ Answers
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