Cheque Bounce
Manjulehh Tripathi
(Querist) 12 April 2010
This query is : Resolved
Hi,
This is manjulesh tripathi, this is my first query.
I helped a person, by giving him about 2.11 laks in various installments.I have a written agreement from him (on 100 Re Stamp paper) stating that, he has borrowed 2.11 lakhs from me and issued one cheque for the same amount in 2008. in the agreement, he has mentioned that he will repay the amount within 24 months. now he is refusing to even acknowledge the agreement and has told me that i have forged the agreement and the cheque. He is now refusing to pay the money back.
my question is:-
1. Should I bank the cheque and take him to court from there on.
2. Is the agreement valid.
3. What is the recourse available to me to recover the amount.
please help.
A V Vishal
(Expert) 13 April 2010
Clarify certain points, as per your query you say "he has mentioned that he will repay the amount within 24 months.", why did he issue one cheque instead of 24 cheques.
1. Should I bank the cheque and take him to court from there on.
Ans. Yes.
2. Is the agreement valid.
Ans. Only the terms in the agreement will decide whether it is an unconditional promise to repay the debt.
3. What is the recourse available to me to recover the amount.
Ans. You can file both criminal and civil suit for recovery of the money.
Manjulehh Tripathi
(Querist) 13 April 2010
Only one cheque was taken for purpose of securing the loan. In the agreement he has (unconditionally) undertaken to repay the loan,within a period of 24 months. I was agreed between me and him that, the loan amount would be repaid on sale of the flat or earlier,)
I can furnish a scanned copy of the agreement if you wish.
A V Vishal
(Expert) 13 April 2010
Send a legal notice to your friend and thereafter after you receive reply you can proceed legally against him.
anantha krishna n.v. Advocate
(Expert) 14 April 2010
I would suggest you to file a civil suit also on the strength of the agreement apart from a complaint under sec.138 after the cheque is returned.
You say the cheque is given in the year 2008. if this is referred in the agreementalso, the cheque is timebared by now. you may file a 420 case instead of 138 NI act.
