tarunkiran (proprietor) 09 April 2012

I am cheated by my friend

CAN SOME ON HELP ME PLEASE...... ANY KIND OF HELP APPRECIATED

I LOANED A FRIEND OF MINE A HUGE SUM IN JANUARY 2003. BUT HE STOPPED PAYING ME INTEREST AND PRINCIPLE SINCE MARCH 2004.

SINCE I GAVE IN GOOD FAITH - I DO NOT HAVE ANYTHING IN WRITING EXCEPT MY PASS BOOK WHICH SHOWS THE AMOUNT AND 1 CHEQUE GIVEN BY HIM FOR THE LOAN AMOUNT. (I CAN GIVE ANY FURTHER DETAILS IF REQUIRED)

HE TOOK ME IN HIS CONFIDENCE SO I DID NOT TAKE ANY LEGAL ACTION AGAINST HIM. HE ASSURED ME THAT HE WILL RETURN MY MONEY BUT TILL TODAY (AFTER 8 YEARS) HE HAS NOT DONE SO-- MORE SO HE IS UNTRACEABLE.

WHEN WE ASK HIS PARENTS AND FAMILY HIS WHEREABOUTS - THEY SAY THAT THEY DO NOT KNOW HIS WHEREABOUTS.

CAN SOMEONE SUGGEST MY BEST RECOURCE TO THIS PROBLEM.

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7 Replies

Dipankar Ghosh (N/A) 09 April 2012

You have stated that you have a cheque provided by your friend ... please confirm wether the date is given in trhea cheque? my contention is that if you have a valid cheque you can proceed u/s 138 against him .... else without security recovering your money will be a tough call.... you can also try filing a cheating case against him .... but most likely he will come up with the answer that he lent you some money and in return you have repayed his loan .... please provide details of the security cheque ....

Ankit Ahjolia (IR Officer) 09 April 2012

dear friend contract can be implied or express...from your que. it is stated that you must have had oral contract that falls in express contract category...but since its been 8 years you are not eligible to file petition...it has to be filed within 60 days under section 420.

tarunkiran (proprietor) 09 April 2012

DEAR DIPANKAR GHOSH,

THANK U FOR THE PROMPT REPLY.

(1) THE CHEQUE IS DATED 25/01/2005 -- HOWEVER I NEVER DEPOSITED THE CHQ AS HE HAD TOLD ME

TO WAIT FOR HIS INSCTRUCTIONS.

THERE ARE SOME DOCUMENTS GIVEN BY HIM - THE LIST IS AS UNDER:-

(A) 3 LETTERS WHEREIN HE ACCEPTS THAT HE HAS PAID INTEREST TILL FY 2003-2004 AND THAT HE

IS UNABLE TO PAY ANY FURTHER INTEREST. THESE LETTERS HAVE BEEN SIGNED BY MY FRIEND

AND HIS WIFE. HOWEVER THE TOTAL AMOUNT MENTIONED IN THE 3 LETTERS COME TO ONLY 60%

OF THE AMOUNT DUE FROM HIM.

(B) TWO BOUNCED CHEQUES -- ONE SIGNED BY MY FRIEND AND ONE SIGNED BY HIS SISTER.

CHEQUES BOUNCED IN 09/2004 (RS 50,000/-) AND 06/2006 (RS 20,000/-)

FOR ANY OTHER DETAILS -- PLS LET ME KNOW,

THX AND REAGRDS

tarunkiran (proprietor) 09 April 2012

DEAR ANKIT AHJOLIA,

THANKS FOR UR REPLY.-

IN REPLY TO MR DIPANKAR GHOSH I HAVE SUBMITTED SOME DETAILS.

PLS HAVE A LOOK -- IF THE DETAILS HELP MY CASE IN ANY WAY THEN PLS LET ME KNOW.

I REALLY APPRECIATE FOR UR PROMPT REPLY AND UR ENDEAVOR TO HELP ME RESOLVE MY CASE.

THX AND REAGRDS.

Dipankar Ghosh (N/A) 09 April 2012

See... your matter is time barrred ... however, there might be one possibility by issuing a fresh notice to your friend demanding the money with interest .... Would like Mr. Ahjolia to comment on the same....

138 NI Act cannot be enforced as the cheque contains a date which is no more valid .....

tarunkiran (proprietor) 10 April 2012

Dear Ashish Davessar,

Thanks for the reply.

I have 3 letters from my friend where in he has confirmed that he has taken loan (the amount is specified in the letter) and for that he has paid me interest till march 2004. He cannot pay any Interest after that. The Letters are dated -- 10/05/2005

Also - I have given the loan to my friend by cheque for which I have entries in my Bank pass Book as proof.

WILL THESE 2 PROOFS HELP IN ANY WAY??

THANKS AND REGARDS