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Regarding recovery of Loan issued in lieu of cheque


20-Nov-2023 (In Recovery Law)
I loaned Rs. 5 Lakhs to my friends 2 months ago. He promised to return in 15 days and issued me a cheque. Now, whenever I ask him to return my money, he always give excuses. I want to know, will my cheque will be time barred if I don't deposit within three months. and if I deposit the cheque and it bounces, in that case, can my friend argue that he was going to pay soon. Please guide me a appropriate action.
Answers (3)

Answer #1
923 votes
If he is failing to give your money back and you have tried your best then you can always get the cheque bounced and issue him/her a legal notice and then if necessary you can always file a petition under section 138 NI Act for the recovery of your money back.
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Advocate Jitender Singh

Adv. Jitender Singh

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Answer #2
670 votes
Your friend can’t argue such things. Yes if you don’t present this cheque within three months of cheque date then you can’t file sec 138 cheque bounce case, then u might have to go for order 37 or suit for recovery. Cheque bounce itself is a criminal offence. Plz be in touch to discuss further Thanks
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Advocate D. Khan

Adv. D. Khan

LawRatoDelhi | 1000+ Answers
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Answer #3
542 votes
I’ve understood you concern and I’ve experience of handling such matters therefore, be assured that I shall assist you through out the process in order to attain favourable outcome. Please reach out to me so that we can start the process expeditiously
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Advocate Alankrit Bhatnagar 

Adv. Alankrit Bhatnagar 

LawRatoDelhi | 100+ Answers
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