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Yourguy (manager)     23 June 2014

420 no assets - cheques bounce

Dear Sir, 

  • I have given handloan of Rs.2 lakhs to my friend he had given me promisory note, 2 blank cheques and empty 100 bond paper on 15 Dec, 2012. till now he has (deposited)given Rs.40000/- in my current account, by cash. He promised to payback with in 4 months, he took it for purchasing the apartment in hyderabad due to to short of 2 lakhs. He used to have small bakery now don't have, his wife got Govt.Teacher job Jan 2013. He has registered this flat on wife name. When we are asking our debts his wifes says "I don't know, dont ask me, she say flat purchased by her monther money they say they have all proofs (all proofs created also they have increased the debt by them self and with the help of close relations). Along with me 15 lakhs looted from others also. with different story.

 

  • No one is ready to ask them the money because  his wife and aunty (Wifemother) warning all the debtors if they come to their flat for asking money they will put harrassment case against all the debtors. 

 

  • I have 2 cheques out of that 1 is bounced, my friend is telling me you can do what ever you want like cheque bounce,  recovery etc., Because he don't have any property on his name now, he also have 20 guntas land in his village but its on his monther name, he is willingly transffered all  his properties (flat,plot) now acting like Bankruptcy.  

Please let me know what action have to take now.  Also his wife saying she put a expert lawyer  for this to protecting the assets.

 

They are enjoying people money with out any fear in the society.

Please expert suggestions are welcome.

 

Yours Pradeep Reddy

 

 

 



Learning

 6 Replies

Advocate Verma (Senior Advocate)     23 June 2014

As per the facts your points are very strong i.e Cheque dishonoured . It attracts  Sec.138 too.Having Assets is secondary matter.Let them do whtever they want,you will surely get justice....

Adv. Dhamale (Lawyer)     23 June 2014

U can proceed under the provisions of both civil and criminal law, NI included. initiate timely action with the assistance of local advocate in the event the cheque is already dishonoured on presentation.

Advocate Bhartesh goyal (advocate)     23 June 2014

If cheque has been bounced,you should issue a notice to him u/s 138 [b] of N.I.Act and if notice is not complied with than file complaint u/s 138 of N.I.Act.

1 Like

Advocate Verma (Senior Advocate)     23 June 2014

you should issue a notice to him u/s 138 [b] of N.I.Act withiin 30 days of cheque bouncing.....

VIRAJ KADAM (Advocate Supreme Court of India)     23 June 2014

Dear friend

Don't worry about his assets. 138 is a criminal offence he will be jailed if he don't pay you and thats enough for him to pay you. Don't waste time, initiate process. I hope your complaint is not time barred. 

Regards

VIRAJ KADAM

Advocate, Supreme Court of India

virajkadam@gmail.com 

T. Kalaiselvan, Advocate (Advocate)     26 June 2014

You have repeated your query in another thread where you were given proper advise.  However, wasting time by simply posting such queries in this forum, it is better you get into the action as advised.  Let him not have any asset, once the fear of going to jail will come into his mind, he will somehow try to settle the matter, but if he is a habitual offender,any amount of such cases will not deter him.


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