Invested money..he is not paying now

You have his duly signed blank cheque with you, hence you may fill the date and amount due to you in the cheque and present it to your bank account for cash.

If the cheque is dishonored, you may issue a legal demand notice followed by a cheque bounce case under section 138 NI act if he is not complying with the demands made in your legal notice for repayment of loan amount

After mentioning the date, you have to present those cheques to your banker.  If got dishonoured, send a legal demand notice towards his legal liability for the said amount.  Subsequently,  filed a case in the concerned court of law under section 138 Negotiable Instrument Act 1881 or Under Order XXXVII of CPC as recovery suit. 

Is there any loopholes for him? He might try something to avoid payment?

Let me add some more information, me and my brother, totally invested 18lacs with him. He promised monthly gauranteed return..wih monthly profit and then my investment back when I need. As a security he gave checks. He paid me some money for a year or so but I invested back with him. I started with 4 lacs and last it become 15 lacs withe help of profit and my new investment

Possibly can he show that profit as payment he paid?

@ Web Administrar,

Well advised by experts, I agree.

You have option to present the cheque(s) and proceed in civil case for recovery as well as criminal complaint for dishonour of cheques.

Besides this, you should also file a police complaint of cheating and fraud committed upon you.

It would be appropriate to consult and engage a local prudent lawyer for appreciation of facts / documents, professional advise and necessary proceeding. 

I have my own doubts about the transaction.  The amount was stated as investment and not lent.  Those who are not well versed with share transactions ask a friend or relative whom they believe have vast knowledge, may provide few lakhs to that purported expert for investment.  Sometimes those may not even ask the friend to invest the name of the original investor, for several reasons like IT, ill-gotten money, accounting problems.  Investment is always risky and no one can assure returns for that amount invested.

When it is an investment, the chances of proceeding against a friend stating that the amount was lent and he has given a cheque is not that easy to establish.

Originally posted by : G.L.N. Prasad
	I have my own doubts about the transaction.  The amount was stated as investment and not lent.  Those who are not well versed with share transactions ask a friend or relative whom they believe have vast knowledge, may provide few lakhs to that purported expert for investment.  Sometimes those may not even ask the friend to invest the name of the original investor, for several reasons like IT, ill-gotten money, accounting problems.  Investment is always risky and no one can assure returns for that amount invested. When it is an investment, the chances of proceeding against a friend stating that the amount was lent and he has given a cheque is not that easy to establish.

Impressive thinking, Let me give you more information,

It is indeed investment. I have proof in what's app chat and also his facebook post where he mentioned offer. I have communication with him where we talked about offer and return. He also wrote that I received it investment funds.

Will this help?

Based on your statement  he is your friend and he had repay some amount by way of business profit. therefore you could wait some more day particularly all business are down due to pandemic situation.

May be he feel to tell all reasons of loss .so better to wait some more days but keep create evidence by communications. Often send reminder to repay the dues 

Originally posted by : Sankaranarayanan
	May be he feel to tell all reasons of loss .so better to wait some more days but keep create evidence by communications. Often send reminder to repay the dues

You read my mind. You exactly told me what I am doing currently. Still waiting and creating evidence. 

Explore all options and prepare Plan A , Plan B etc and you ought to have informed the profession of your friend for better understanding.  You may find out from your other friends about such frauds played with them by the same person.

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:-

 

Who lacks business sence and cannot raise funds out of his own business and suddenly wants to be rich.

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.

 Who knows he can afford not to refund.
Who trusts his thick skin
Who intends not to refund
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 :-

Who has surplus money.
Who displays and boasts of such surplus money.
Who stupidly believe that there will be a refund.
Fails to realise as to why he alone (not bank) is being contacted for loan.
Who has extreme trust on the debtor
who are either stupid or extremely greedy of the unusual (or illegal) rate of interest.

Such loans are always given

Without documentation.
Without witness
Without guarantor.

Business started by such money  (easy money belonging to other) invariably fails.

Such loans always sink and not refunded.
 

Originally posted by : Sudhir Kumar
	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:-   Who lacks business sence and cannot raise funds out of his own business and suddenly wants to be rich. 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.  Who knows he can afford not to refund. Who trusts his thick skin Who intends not to refund 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 :- Who has surplus money. Who displays and boasts of such surplus money. Who stupidly believe that there will be a refund. Fails to realise as to why he alone (not bank) is being contacted for loan. Who has extreme trust on the debtor who are either stupid or extremely greedy of the unusual (or illegal) rate of interest. Such loans are always given Without documentation. Without witness Without guarantor. Business started by such money  (easy money belonging to other) invariably fails. Such loans always sink and not refunded.

Sir, you explained the perfect scenario of what happened and I fully understood that but done is done. It will be really helpful if you provide your constructive opinion on what should be done .. its fact that I will no proceed with such investment anymore in the future. I understood the hard way. I am trying to find now what could be a future situation if I file a case, check return case and what could be the possible outcome, what twists will be possible by him.