CHECK BOUNCE

A.BURHANUDDIN (Querist) 22 December 2010 This query is : Resolved
SIR I HAVE TAKEN RS 55000 AS A HAND LOAN FROM MY FRIEND IN MARCH 2010,FOR SURITY I HVE GIVEN TWO BLANK CHECKS WITH MY SINE,WITHOUT DATE AND TOLD TO HIM I WILL PAY AFTER 4 MONTHS BUT I DID NOT PAY BECAUSE OF SOME PROBLEMS.I ASKED HIM SOMEMORE TIME TO REBACK BUT HE DID NOT GIVEN AND BOUNCE THE CHECK FO RS 500000.AND SEND A LEGAL NOTICE TO ME IN TH IS MONTH(15.12.2010).HE IS DEMANDING NOW TO PAY RS 500000.
I AM ABLE TO PAY RS 55000 WITHIN 3 MONTHS BUT HE DID NOT ACCEPTING THIS.
NOW WHAT I HAVE TO DO

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M.Sheik Mohammed Ali (Expert) 22 December 2010
immediately send reply notice to him that deny all allegation and give exact amount mentioned.you have any promissory note got from your friend or any other document for proofing your amount, if not its very difficulty to succeed you complaint.

Pritam Saini, Advocate (Expert) 22 December 2010
in reply with a deffence of stolen blank cheque by your friend who has came your home being friend and cheque was left for your family use in your absence and simmillarly sent complainent in your bank as well as police.In cross during trail you can put questions regarding his financial capacity,money landing liecence as well as written proof of loan or ask whether he has shown this loan in his income tax return, if not than as per section 266 of income tax act an amount of more than 19999/ shall be in written/ record.Intention of the N.I. act to faith people in banking system but with increase to doing businesses in white not helpful for doing illigel business. In this regard Bombay high court gave his vedict in 2010

Raj Kumar Makkad (Expert) 22 December 2010
I do agree with Pritam ji Saini. Shthe Shathyam Samachret. Let him come to now your terms. There are various citations which are sufficient to prove that if complainant had no license of money lender, he cannot claim given money on interest.

adv. rajeev ( rajoo ) (Expert) 22 December 2010
Issue reply notice denying the contents of the notice, YOu have got good case. call me if case is filed against you.