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Recovery of money lent to a friend
16-Sep-2023 (In Recovery Law)
Hello Team, I had transferred 3 lakhs amount to a friend/acquintance more than 6 months ago as a loan. He had assured me of returning it within 6 months but nothing has been returned since then and he is making excuses and delaying now. He had given me a blank cheque 2 months back but now he is requesting me to not submit that cheque as he does not have enough balance. I want to send him a legal notice first before submitting the cheque as I do not want to take this to court. What is advisable here in my case, to send legal notice before or send notice after submission of cheque if it bounces.
It is better to present the cheque and go to court to get an order in Magistrate or any other competent court. You can complete the case in fast track magistrate court within 6 to 10 months, otherwise, you can go to civil court only and it will prolong to 24 to 36 months. Moreover criminal case is always better than civil case in Cheque bounce offense.
Sathish M
Advocate
Madras High Court
Sathish M
Advocate
Madras High Court
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Adv. M Sathish
Chennai | 25+ Answers
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