Dear Sir ,
My cousin had given a loan to a person to the tune of Rs : 4 lacs somewhere around 2001 for some business venture. The venture didnot progress well & my cousin asked for the refund of the loan . The loan was not refunded, as a result of which he committed suicide . After his suicide in 2004, his wife (my sister-in-law) had approached the borrower several times to return back the hard earned money . But till date no results.
She had even approached police in Nov-2009 . This resulted in the borrower agreeing to give Post dated cheques to my sister-in-law.
Recently in JAN-2010 the borrower had given six postdated cheques, each of Rs: 25,000/- to my sister-in-law. She deposited the first cheque on 30/01/2010 which bounced & another on 30/03/2010 which also bounced due to "FUNDS INSUFFICIENT". This was brought to the notice of the borrower wherein he promised to give the amount in cash, but till date no results. We had even sent a letter to the borrower stating the facts & the implications of cheque bouncing (as per Negotiable Instruments Act) which could result in legal action but it seems that he is least bothered and has not taken it seriously.
As such please guide as to what is to be done next. Also please note that my sister-in-law, a widow , is aged 40 years & do not have any children, as such this is the only savings she has, but that too is not in her custody & the harassment for taking her own money still continues. She doesnot have any one else to support her in this fight against injustice.
REGARDS
NARESH K WADHIA
