Cheques bounce due to insufficient fund
PRAVIN RAMCHANDRA SHINDE
(Querist) 08 December 2015
This query is : Resolved
My friend need money for loss in his business, he approach me & my family to help. I and my family decided to help him. I give him 8 lack & my brother give him 7 lack by way of cheques payment without any agreement or promissory note. he agree to return money with in 10 months. After 10 months he give me 3 cheques 5 lack each to my name not my brother name. But all cheques bounce with remark of insufficient fund. What i do, can I send notice to him.
I have bank statements to prove of transactions. Can prove liability of 15 lack because my brother give him 7 lack by way of cheques and he give me all 3 cheques mention my name. I am from mumbai.
Pls help me... I have only 1 month to expired all three cheques.
SAINATH DEVALLA
(Expert) 08 December 2015
Both of U gave him money by way of cheques,but no supportive documents.This is Ok.3 cheques given in UR name and they got dishonoured.Immediately send him a legal notice regarding the cheque bounce by engaging a competent lawyer,well versed in NI ACT.
PRAVIN RAMCHANDRA SHINDE
(Querist) 08 December 2015
Thank u very much for ur valuable suggestions. Sir I have some questions.
1.My brother gave him 7 lack and accuse issued cheques on behalf of my name. Can prove this liability.
2.Accuse address a letter on plain blank paper with his own signature through a register post on that letter he accepted to repayment of 15 lack, also he metion cheques no, amount which give me as security purposes. Can this is valid documents to show in court.
3.also can I have sufficient evidence to win a case.
4. How long NI case took to solve.
PRAVIN RAMCHANDRA SHINDE
(Querist) 08 December 2015
4. Above amount not shown in IT return and it's necessary if payment gave by way of cheques.
Rajendra K Goyal
(Expert) 08 December 2015
You should send legal notice for cheque bounced after discussion with your lawyer.
It was a wrong decision to give such huge amount to a person who has suffered huge business loss without ascertaining how he would pay on future agreed date.
SAINATH DEVALLA
(Expert) 08 December 2015
UR replies are contradictory.Earlier U said U had given 8 lakhs and UR brother 7 lakhs and U have also not mentioned about his acknowledgement of the amount through a registered post.
Unless U put the entire case history in UR first post instead of adding material,it does not give U the correct suggestions and solutions.
PRAVIN RAMCHANDRA SHINDE
(Querist) 08 December 2015
Yes, sir I realised that I am taking wrong decision. I and my family blindly trust him, he cheat me knowing that not sufficient balance when he gave me cheques. Now I have to fight such a situation.pls consult me.
I consult from regal advocate he told me send demand notice as friendly loan. he also told me Acknowledgement on plain blank paper not acceptable although i received from register post.
Pls advise me..
ADV-JEEVAN PATIL, MUMBAI
(Expert) 09 December 2015
Pravin 1)immediately send legal notice to keep your claim alive. 2)If he fails to pay then file complaint. 3)If u wish,contact me on 9869400938 Mumbai,Kandivali East, Thakur Complex, jeevansci@yahoo.com
PRAVIN RAMCHANDRA SHINDE
(Querist) 09 December 2015
Sir,
Can I registered complaint to local police station.
Any one tale me signed blank paper and send through register post it is valid documents to present in court
