Money borrowed through non judicial stamp.

JITENDRA YADAV (Querist) 15 July 2015 This query is : Resolved
I m from Rajasthan. I borrow money rs 100000/- cash on 01/01/2012 with interest of 2 rupees per hundred through 100 rs non judicial stamp paper & notarized. A blank cheque without date was given to him. Detail of cheque & Due date of repayment was mentioned on stamp. Due date of repayment was 01/01/2014. Repayment of rs100000 with interest in cash was paid to him on 01/01/2013. But he didn't returned or destroyed that stamp paper. Also I have not any receipt or any evidence of repayment.
Now on 12/07/2015 he send me a notice to claim his money & interest which I have already paid to him.
Money lender is not licensed.

Please reply me how I can make myself safe from his froud & bad intension.

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Advocate Kappil Cchandna (Expert) 15 July 2015
Sir,

Try to get an admission from him from different different sources haan, use them in your favor.

Whether the stamp paper he is using is witnessed or not?

Warm Regards
Kapil Chandna Advocate
9899011450

Rajendra K Goyal (Expert) 16 July 2015
Reply the notice through your lawyer.

He has given 100000 cash which is against IT Rules. Whether he has money lenders license ? Whether he has shown the loan amount to you in his Income Tax returns.

Your lawyer can take care of your interest if you can prove the amount was repaid.

Kumar Doab (Expert) 16 July 2015
Agreed with experts.

Guest (Expert) 16 July 2015
It is your fault Not Collecting Back the Cheque.Issue a Stop Payment Letter to Bank and take acknowledgement.Seek the help of Local Good Advocate and file police complaint for their Criminal Breach of Trust and Cheating.

Dr J C Vashista (Expert) 18 July 2015
1. Prima facie it is an academic query.
2. The lender has secured his loan by accepting undated cheque and got an agreement executed for the loan amount.
3. Despite the fact he (lender) is not holding a money lending licence, he is entitled for the principle amount and interest thereupon.
4. It would be advisable to settle the matter with money lender. Your defence is very weak wherein you have stated to have refunded the amount with interest in cash without obtaining a receipt/ acknowledgment despite the fact that the borrower has issued an undated cheque and an undertaking to the effect of borrowing money.

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