chander prakash (personal) 08 January 2013

Cheating

In June, 2011, I gave two cheques of Rs.1 lakh each to one person who claimed to give me 8% interest per month for these Rs.2 lakhs. He took cheques in the name of his WIFE.

First month, he gave me 8% and next month 4%, and from third month he did not give me more than 1% per month that is also not regular (he deposit cash in my bank a/c). For the last three months he stopped giving any payment showing his inability to give RIGHT NOW. He promised to give money back in 3-4 months after selling his ancestral property.

What is the remedy. How can I get my money back. Is there any provision in law.

Regards,

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4 Replies

Chetan Joshi (Advisory/Advocacy) 09 January 2013

How did he claim to pay that interest? I mean what was the mode of communication?

You can sue him for recovery of money but the important question is that is it worth waiting 3 - 4 months. I would suggest you to take an acknowledgement from him specifying his debts.

Regards

Chetan(dot)7679(at)gmail(dot)com

chander prakash (personal) 10 January 2013

thanks for the reply.

I have nothing in writing, every thing is settled verbally as he was my relatives friend. Only thing in writing is that "PAYMENT IS MADE BY TWO CHEQUES" in his wife's account. Please advise how can I claim my money back legally. Is there any remedy. Secondly, if I lodge a complaint in police, whose name I should mention 'the person' or 'her wife' in whose name cheques are issued.

regards,

chander