Hello Sir,
Few years back we took a loan of Rs.2,00,000 from a local person at a interest rate of 5% and we paid interest for him for a year through cash (no receipt given) and last year may we had cleared the actual amount of Rs.2,00,000 through check and we are due to pay around 25,000 of interest and we requested him and said that we cant pay the interest. He ignored us and did not give our papers and cheques (everytime we ask, he says to come later) and after few months he asked us to pay an amount of 40000 as due. We said that we cant give any money as my father lost his job. Today (9 august) he sended a notice saying that we are due to pay Rs.4,00,000. The notice says that we borrowed the amount in january of this year and promised to pay in 4 months and there was a check bounce also mentioned in it.
He included sections 138 R/W 142 of negotiable instrument act,1881.
But we gave the actual amount to him last year through bank. Moreover the promisery note and cheques were around 3 years old.
Is there any way to prove we are innocent?
Please help us with your valuable suggestions.
