Background Scenario: I had invested 15 lacs in buyback offer and notarized the MOU along with check numbers and investment returns check numbers. Builder had issued 7 postdated checks including 2 checks of Rs 10 lacs and 5 Lacs of my investment amount.
Builder cheated and hence the initial 5 checks provided bounced. As he cheated group of folks including me a case under 420 is already logged against him and he was in PC and now release on bail.
I had filled 2 cases with two different lawyers ( 3 checks + 2 checks = totaling 4 lacs) under section 138. Over last 6 months the cases has reached to a state where non-bilabial warrant will be issued now. Now as the principal amount checks were also due I deposited the same and those also bounced and 15 days notice period is over and my timeline to file the case is till this week end.
Question: My objective is to recover my investment 15 lacs along with expenses including leagal expenses etc. If I file 138 case for these two checks worth 15 lacs I need to pay 30,000 as processing fees, hence I am at point where I need your suggestion / experts advice how to proceed further.The options I was thinking about were
- Try to recover amount using earlier 138 cases submitted and if those do not yield result file civil recovery suit for the 15 lacs amount check which to my understanding can be submitted within 3 years
- Submit 138 case for these 15 lacs checks as well as chances of recovering 15 lacs will increase if case goes in my favor if not file civil suit – most expensive approach.
I am not able to take a call because of two factors,I do not know the probability of success in 138 case and usual average timelines for closure. I do not know the expenses for civil suit and timelines and probability.
Can you please help with your experts suggestion in this case. My objective is to give best attempt to recover the amount along with legal expenses and my analysis indicates accused has capacity to repay. Is there better approach, which is cost effective leading to increase chances of recovery.
