Sec 138
sajoli
(Querist) 28 November 2011
This query is : Resolved
part I
my client has given certain undated cheques for the bills outstanding.
on his letter head there is a condition "kindly note all above cheques are only for the purpose to show your bankers as a security deposit and confirmation of outstanding balance with us.pls do not deposit the cheques unless an until you get our written confirmation,kindly acknowledge."
i have only put my initials on the above and it does not even bear my company rubber stamp.
1) what can i do to recover my outstanding amounts?
2) how can i use these cheques?
3) what if he does a stop payment of the cheques?
4) do i have to wait till he gives me a written confirmation to deposit the cheques as i have just put my initials and what is its legality?
i even have the delivery challans bearing his signature and some have his company stamps also.
He also has mentioned cheque nos,bank name, and amount on my outstanding ledger on which he has written "above mentioned cheques has been given for this statement(outstanding)".
pls suggest a way in which i can get my hard earned money back bcoz i think he dosent intend to repay.
part II
wanted to know in this connection that my clients shop at sara market caught fire on the 26th of november which is mortgaged with bank against cash credit facility.all the books of accounts and stock has been burnt to ashes. the said premises is insured for fire.
1)how can i claim insurance?
2)how can i utilize the above mentioned cheques?(previous query)
M/s. Y-not legal services
(Expert) 28 November 2011
since you want to recover your money, thats all. so just initiate the proceedings for recovery your money according to law.
issue legal notice by claiming the money for the cheque amount.
if there is no response after the legal notice mean just file money suit fot recovery of money before the competent court
M/s. Y-not legal services
(Expert) 28 November 2011
but you did not stated any thing about the date of loan.. you should be initiated this proceedings in time..
with in three years from the date of expiry the dues you have to started the proceedings.
i hope, as an advocate you know the remaining formalities..
Shonee Kapoor
(Expert) 29 November 2011
Nothing more to add.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Raj Kumar Makkad
(Expert) 30 November 2011
Everything is required to be added because no reply of query has been made by either of the experts.
You are not precluded from claiming your outstanding bills by way of using the cheques under your possession. You can intimate the borrower about the outstanding dues with notice that after expiry of 7 days, you are going to use those cheques for the recovery of those bill so he should arrange for clearance. If no reply is received within the stipulated time, adopt procedure of 138 Ni Act and file criminal case. Permission letter head is bearing only your initial without rubber stamp of company so take its benefit.
You are not entitled to lodge any claim with insurance company as there is no direct agreement of you with fire insurance company.
