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Victor (Manager)     31 October 2024

Loan given to a student who left to usa and not repaying

In Oct 2023 , a known girl aged around 35 asked to adjust 1L rs  who is persuing PG in USA and promised to return in weeks time. Same done thro online netbanking.

Her mother gave a blank cheque signed and one agriculture land agreement document of her husband as secuirty. 

But till date she did not return any money &  every time her mother living in same colony is giving lame execuses.

Experts kindly give suggestions on how to recover this debt, esp how to take actions on the person who is not in India ?



Learning

 4 Replies

T. Kalaiselvan, Advocate (Advocate)     31 October 2024

First you fill the cheque and get it bounced by bank if there's no sufficient money in her account.

After that you initiate cheque bounce case under section 138 NI Act and simultaneously you can file a suit for recovery of money on the basis of cheque and online transaction through civil court also 

Dr. J C Vashista (Advocate )     01 November 2024

What is the type of loan advanced to the lady ?

Presumably all relevant loan documents were signed by borrower as well as guarantor and the documents are preserved by the Bank, what is the dispute in filing recovery through jurisdictional civil court ? 

Discuss with your penal lawyer to proceed further or share the documents with me for perusal and necessary proceeding, if you are located in Delhi.

P. Venu (Advocate)     01 November 2024

Was the loan givenin our personal or as the Manager of a financial institution?

K. PHANI KUMAR (ADVOCATE)     01 November 2024

Land Agreement on name of his father no use. You can depisit the bank cheque and when it is bounced you can file a criminal case under negotiable instrument act. You can file a money recovery sui


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