Money lending
M. kumar
(Querist) 04 June 2014
This query is : Resolved
Respected Sir,
I borrowed money from a money lender in six instalments spread over year 2012 under an agreement on a stamp paper of the value Rs 100 and issued four undated cheque amounting to the total value of the borrowing.
Since then, till Dec 2013, i have repaid almost double the amount to the lender. The loan was received in cash and the repayment was also made in cash. No record for repayment apart from a few phone call recordings where money lender is acknowledging the reciept of various cash repayments. He is not returning my cheques. Now, the lender is bent on creating nuisance threatening me & family with abduction, murder and applying all sort of pressure tactics to extract more out of me. I have written to local & higher police authorities briefing them on the matter. A meeting was also held in presence of respectable people of the society last month where the members from both sides listened to both sides plea and directed the borrower not to bother me in the future. but he he is still not mending his ways.
Kindly guide & help.
Advocate Ravinder
(Expert) 04 June 2014
You have gone into the clutches of money lender. Let him file case we will see what is his stand. What case he will file whether 138 NI Act or Civil case. Then we will defend. For any further doubts call me 7893011777 or ravinder2345@gmail.com.
Raj Kumar Makkad
(Expert) 04 June 2014
First of all make stop payment against those cheques and intimate the lender through a registered letter that as you have already re-paid the entire loan amount with almost double interest hence you have no liability towards him and further demand the blank cheques back and also intimate therein that you have instructed your banker to stop payment.
Wait for further action on the part of lender.
Advocate Ravinder
(Expert) 04 June 2014
I agree with Raj Kumar makkad sir, but how will you prove that the money was already re-paid. Moreover if we make stop payment, he will file case under 138 NI act which will be another burden on him.
Rajendra K Goyal
(Expert) 05 June 2014
Well advised, agree with the advise pf raj kumar makkad ji.
Guest
(Expert) 05 June 2014
You could Lodge a Police Complaint Explaining all the facts and obtain a FIR if Police is not willing to register the complaint you could file a Private Complaint in court seeking directions to register your complaint regarding the same thro an advocate.Better do this at the earliest to avoid future complications.Consult a Criminal side Advocate locally.
Biswanath Roy
(Expert) 05 June 2014
APPROPRIATE ADVICE BY LEARNED MR. MAKKAD. FOLLOW HIS ADVICE IN TOTO AND OVER AND ABOVE FILE A PETITION BEFORE THE JUDICIAL MAGISTRATE AGAINST THE MONEY LENDER U/S.503 IPC FOR CRIMINAL INTIMIDATION FOR EXTORTION OF MONEY WHICH IS PUNISHABLE U/S.506 IPC AS PER VERDICT OF SUPREME COURT.
Guest
(Expert) 05 June 2014
I endorse the views of Shri Raj Kumar Makkad. But stop payment instructions to the bank should follow only after you send a registered notice with detail.
V R SHROFF
(Expert) 05 June 2014
agree with Shri Raj Kumar Makkad :
Issue notice to rtd chq to you. & not to deposit in Bank, as u already pd cash.
Outdated as issued before 3 yrs.
Raj Kumar Makkad
(Expert) 05 June 2014
When notice is issued first and stop payment is instructed thereafter, no offence shall take place under section 138 NI Act, as anticipated by one of the experts.
M. kumar
(Querist) 05 June 2014
My heartiest thanx to all the respected experts for their prompt & invaluable guidance which has brought me great relief & belief that all will be well.
Meanwhile, one of my friends has cautioned me that the lender can apply sec.420 in this case. Is this applicable in my case. And what if the lender has got the cheques bounced already as i was out of town & not sure on bank status
T. Kalaiselvan, Advocate
(Expert) 06 June 2014
You have been advised very properly by all experts, especially expert Mr. Makkad's advises are are more suitable. Now your doubts about Section 420, let him lodge a complaint with the police, since you have stated to have already approached police about this, at this stage his complaint will not be entertained by police, further if he has bounced cheque in his possession, he should have issued yo with a notice demanding the cheque amount, verify.
Raj Kumar Makkad
(Expert) 06 June 2014
Though the complaint under section 420 IPC can definitely be filed but its ultimate result shall go in your favour in the light of given facts. Merely bouncing of cheque is not sufficient to constitute an offence punishable under section 138 of NI act. Many factors are required to be fulfilled which are missing in the given facts.
M. kumar
(Querist) 29 June 2014
Good evening to all the experts.Even after one and a half months, there is no word from the lender. Can he get my arrest warrant against the offence of cheque bounce without my getting any notice or communication from him or local police. I am restless on not seeing any action from him, knowing fully well about his nature. Or am i just scared for no reason ?? what worst can happen to me ? I am dying of speculation. Please guide sir. I have already complied with Mr. Makkad sir's advice.
Biswanath Roy
(Expert) 29 June 2014
Learned Mr. Makkad's advice is very much lawful . As you said you followed his advice it means you are well protected by law itself and there is nothing left to be worried for.
Raj Kumar Makkad
(Expert) 30 June 2014
Police has no role to play at the initial stage of the complaint. The court shall send notice and the bail shall be granted on the same day and thereafter the trial shall go on. You need not worry as no arrest warrant is going to be issued in such offence.
M. kumar
(Querist) 09 October 2014
Respeted honourable & elite panel members, my pranam to all. I am again facing problems in my case as after a lull & peace for three months, a court letter in a sealed envelope from civil court Aligarh, which happens to be my money lenders'native place was sent to my residense by post. I was out of town & my wife refused to recieve it, so i dont even know the content of the letter( or it may have been a court summon). My fathers name was also there on the envelope. What shall i do now, sir? As the lender is very strong in his area & i fear for my life. So i cant even go there to gather the case details also. Meanwhile, i wonder for my fathers name on the court letter. Please help me and guide me as to what wil be the course of law now ? Honourable sirs,i am financially constrained & i solely bank on your advice which has saved me & my family till now. Please guide me.
M. kumar
(Querist) 10 October 2014
Please guide me on the subject sir !!
V R SHROFF
(Expert) 10 October 2014
Inform police abt ur safety.
Receive Court Letter/ defend on merits..
V R SHROFF
(Expert) 10 October 2014
Inform police abt ur safety.
Receive Court Letter/ defend on merits..
M. kumar
(Querist) 06 June 2015
Namaskar Honourable Expert panel. Respected sirs, in continuation of the above sequence, I recently found out that a complaint case by the lender under section 138, 420 has been filed at distt court, g.b.nagar on 31/01/2015 with first hearing on 03/03/2015 & next hearing date on 13/06/2015 for Further Order.
Simultaneously, lender has also filed a complaint case (warrant trial) at his hometown courts, aligarh with already three hearing dates, out of which last date passed by on 01/01/2015. Online status of this case shows stage of this case as Appearance. This case was registered on 11/08/14.
Respected Sir, i came to know about this today itself. I dont know what to do & where to go.My whole family is hopeless now.
I dont know what course & procedure law will take. Please help me as i am at complete distress with no money to contest this case.
Now ,only you learned experts are my only hope.
Biswanath Roy
(Expert) 06 June 2015
Learned Experts of this platform will not go to your courts to contest your cases. As you claimed that you have no money to contest your cases in such a position you can seek help from your State Legal Aid Society who may contest your cases free of charges.
M. kumar
(Querist) 06 June 2015
Thanks for your prompt reply sir. I realize that i will have to contest my cases, whatever my situation be. But what I am praying from all these learned experts is just to guide me of the correct & appropriate legal course of law that i should follow to save me & my family and try come out of this web. I know Your Wise advise till date has given me belief & shown me a ray of hope to fight on.
Looking forward to your prompt words of wisdom.
Biswanath Roy
(Expert) 06 June 2015
You are soliciting "correct & appropriate legal course of law" You being a businessman and as a Proprietor do you think you will be able to cope with legal proceedure? I advice you to take help of your State Legal Aid Society.
