Cheque bounce

Ram (Querist) 15 December 2014 This query is : Resolved

Dear Sir,

I have invested a amount with a person who trades in Stock exchange in Futures and option segment. He has guaranteed my capital and he has stated that he will monthly returns in a stamp paper.

Now he is telling me that he has lost all the capital and he has stopped me giving monthly return. The cheque he gave me got returned back.

Can criminal law expert guide me what legal action should I take in this regards?
kindly help me out.

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Guest (Expert) 15 December 2014
Normally Any Investment in Shares are Subject to Market Risk.Have you signed any Agreement with him.Consult a Local Good Advocate with all Particulars and Proceed.

Ram (Querist) 15 December 2014
yes sir, I have signed agreement with him in a stamp paper. He gave me cheques also for my capital invested but the cheque got bounced now? could you please guide me on legal procedures?

Guest (Expert) 15 December 2014
Consult a Local good advocate with all Particulars the agreement copies etc.

Ram (Querist) 15 December 2014
Thanks sir. I will do that, can u please explain me on the legal procedure please?

Ram (Querist) 15 December 2014
sir, can you please refer some good criminal lawyer in Chennai please to handle my case?

Guest (Expert) 15 December 2014
Please visit the relevant Court and Judge accordingly and Choose.

Ram (Querist) 15 December 2014
ok sir. I will do the same..

ajay sethi (Expert) 15 December 2014
you can search in LCI database for lawyers in chennai . no person can guarantee you returns in stock markets. you can file cheque bouncing case if he has guaranteed your returns and cheques have bounced

Rajendra K Goyal (Expert) 16 December 2014
You can file cheque bouncing case against the person. Language of your agreement is crucial and need to be referred.

malipeddi jaggarao (Expert) 19 December 2014
Immediately contact a local advocate and serve notice under Sec.138 of N.I.Act for cheque bouncing and later file case if he does not pay your amount.

V R SHROFF (Expert) 19 December 2014
Issue notice under ni act thru Lawyer.
u never disclosed what he rtd as profit/ int by now?? must be 10% p.m...
It is a Game/Gamble / so take it easy...

Ram (Querist) 19 December 2014
Sir, He never returned any amount as profit. He only eroded the capital. No it is not a game or gamble...he does not know how to trade. I cannot take it easy.

T. Kalaiselvan, Advocate (Expert) 23 December 2014
This is another act of foolishness on the side of such innocent investors(victims); there is no guarantee for assured returns in the stock market investments. If somebody assures it, the same can be considered as a false promise and a fraudulent act. Anyway whatever worth it is, issue him a legal notice u/s 138 NI act, but it cannot be said as legally enforceable debt.

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