Cheque Bounce - Friendly Loan
Querist :
Anonymous
(Querist) 02 August 2011
This query is : Resolved
Hi - I had given a cash to my friend of 1L, as he needed help for property buying. He had promised to repay the same in 2 months, however after the said period he gave me cheque of 1L, however the cheque bounced with the notification from bank as ACCOUNT Closed.I would like to file case against him, will law be force full in this case. How much time will it take to close this case
Raj Kumar Makkad
(Expert) 02 August 2011
You should immediately issue a notice to your friend about the loan, issuance of cheque, its subsequent deposit with your bank, its bouncing with reason and the should say it as a fraud and should demand payment of amount of cheque within a period of 15 days of receipt of notice failing which to face legal action as his own cost and expenses.
You should take services of a lawyer for this purpose. You can file 2 cases at the same time. One criminal complaint under section 138 NI Act and second a recovery suit.
prabhakar singh
(Expert) 02 August 2011
I AGREE WITH OPINION EXPRESSED BY Mr. Raj kumar makkad. YOU SHOULD FILE BOTH.
M/s. Y-not legal services
(Expert) 02 August 2011
Yes am agree with senior mr.makad. Limitation is very very important in n.i act. Consult your advocate it time.
Ajay Bansal
(Expert) 02 August 2011
Very minute chances of your winning that matter.S.C. has given anti law against friendly loan,if amount is about Rs. 100000/-.
Querist :
Anonymous
(Querist) 02 August 2011
Hi - I can prove source of funds as I had got some money from My Mutual fund in my account, I am clean here. Also I can show 4 withdrawl transactions of INR 25000 from my bank made on 4 days from ATM.Where are the pitfalls and where accused can get away. Will couple of witneses help who are aware of the cash transaction
R.Ramachandran
(Expert) 02 August 2011
Dear Anonymous,
Instead of going on debating the issue, first issue the Notice under Sec. 138 N.I. before time lapses.
