Money is not being returned. Only Post dated cheques issued
Shubhi
(Querist) 07 August 2018
This query is : Resolved
Please advise me as I am seeking for your help urgently
In Jan'18 ,One of my knowns had requested me for some money as he has to send money for daughter's higher studies. But it was so urgent he could not arrange from bank, as he said so.
As he requested me so many times , I helped him with money and one of my friends also provided money along with me to him as I don't have so much money.
My known issued post dated cheques to me and my friend for repayment of that amount.But my known requested not to deposit those cheques and issued new post dated principal amount cheques with some interest amount cheques , both principal cheques and interest amount cheques to me and my friend.
But still he is requesting not to deposit as he doesn't have funds now and will tell us as he is waiting for some funds.
Kindly let me know how can I get my money back as it's six months now and he is not paying back our money as we both need money.
Kindly advise
sachin sharma
(Expert) 07 August 2018
First thing, if u r helping someone financially, U should be a little bit more patient. Every time he is issuing you a post dated cheque which shows that his intention may not be fraudulent. But if by hook or crook u want your money back, u have the option to get the post dated cheque bounced and initiate the criminal proceedings u/s 138 N.I. act. However, if u do not want to inititae the criminal proceedings just let him know that u r planning this step as even u r need of son
sachin sharma
(Expert) 07 August 2018
First thing, if u r helping someone financially, U should be a little bit more patient. Every time he is issuing you a post dated cheque which shows that his intention may not be fraudulent. But if by hook or crook u want your money back, u have the option to get the post dated cheque bounced and initiate the criminal proceedings u/s 138 N.I. act. However, if u do not want to inititae the criminal proceedings just let him know that u r planning this step as even u r in urgent need of money.
Sudhir Kumar, Advocate 
(Expert) 08 August 2018
" Kindly let me know how can I get my money back as it's six months now and he is not paying back our money as we both need money. "
You are not going to get refund.
Sudhir Kumar, Advocate
(Expert) 08 August 2018
Money given to friends and relatives is always a charity in the garb of loan which is given in expectation of refund but always taken with intention of non-refund.
Such loan is taken by a person:-
(i) Who lacks business sense and cannot raise funds out of his own business and suddenly wants to be rich.
(ii) who cannot raise bank loan because :-
Either
he himself is not creditworthy
Or
the purpose for which he seeks loan is illegal
or
the purpose for which he seeks loan is not at all commercially viable.
(iii) Who knows he can afford not to refund.
(iv) Who trusts his thick skin
(v) Who intends not to refund
(vi) Who has made fortification against action of refund.
So he has to find someone who can part with his money. So he finds a lender near him (friend or relative)
Such loans are given by the persons :-
(i) Who has surplus money.
(ii) Who displays and boasts of such surplus money.
(iii) Who stupidly believe that there will be a refund.
(iv) Fails to realise as to why he alone (not bank) is being contacted for loan.
(v) Who has extreme trust on the debtor
(vi) who are either stupid or extremely greedy of the unusual (or illegal) rate of interest.
Such loans are always given
(i) Without documentation.
(ii) Without witness
(iii) Without guarantor.
(iv) During cordial relations
Soon after giving such loan :-
(a) Relations are no more remain cordial
(b) Business started by such money (easy money belonging to other) invariably fails.
(c) Such loans always sink and not refunded.
(d) Person seeking such refund suffers at legal process.
(e) Person seeking such refund legally or by persuasion is socially criticised.
Kumar Doab
(Expert) 09 August 2018
One fine day the cheques may be stale..and even limitation may stare at you.
Try with help of elders of the family, well wishers if matter can be resolved amicably..and you can get payment ASAP.
Kumar Doab
(Expert) 09 August 2018
Or approach a very able senior LOCAL counsel of unshakable repute and integrity specializing in Civil matters and well versed with latest citations, LOCAL applicable rules/laws/ … and having successful track record…. and worth his/her salt…..with whom you may share inputs /show the documents/evidence for a considered opinion..and understand the lapses/loopholes at your end and how to plug.
At each location three are some counsels that specialize in such matters and they are well known.
Check for such counsels at LOCAL civil courts, HC, SC……
