Legal help and check bounce

Hello Mr. Yogesh V Nayyar  Ji, Thank you for the elaborate explanation about the NRE/NRO account types. This is useful and I am fully aware of these accounts.

One fact about the case though. Out of 1.3 crores I have invested with my friend, part of the amount is via my NRO account and part of it is via other friends and relatives via their account transfers and part of it via cash too. 

I believe the basis for the account of 1,3 crores received from me is the agreement he has singed (earlier pasted). The agreement may not bind the partnership deed as you interpreted because it is not duly signed. Would it at least give the warranty for the amount he has taken form me ? Once this is established we can use the checks to go after him. Right ? Please advice.

@ Ram,

Why i was constrained to  bring this fact up was you being an NRI you cannot have income which is being generated in your name transferred in an account. The same could be possible only when you have a NRO account and in such event you would be able to present the cheque issued by your friend/partner in your NRO account. Otherwise it would be difficult for you to get your money back.

Yes, if the amount has been transferred from your NRO account it would sure be a basis of the transaction and you can go ahead with your case by presenting the cheque issued in your favour.

Additionally the amounts which have been transferred from the account of your relatives through their accounts you can have an understanding with them in the form of loan which you availed without interest and they paid the money on your behalf would as well be accountable which your friend/ partner has received.

Thank you! That is really so nice of you for your very prompt reply. I really appreciate your time and help.

@Mr. ram, you can send a PM to me with details, shall guide you with more ideas on the subject.