Loan to a friend

What is the date of the cheque issued by your friend?  Whether it has still validity for presentation to the Bank?

 

he issued a cheque without any date but he wrote amount in words and fig.  even name also not written, asked me to fill the same.

Your theory can not be believed , since in what circumstances you parted with such huge amount and what are your resources for such huge savings.

sir i am doing my tax consultency services from 15 yrs out of my professional income savings i paid the amt.  

When you know IT act have you maintained accouts and the money and debits in the account.

A recent judgment of Bombay High Court reported in 2010 (6) LJSOFT (URC) 77

 

Dishonour of cheque _ Complainant advanced cash loan of Rs.5,70,000/- (Amount above Rs.20,000/-) to the accused against receipt and in presence of one witness. Accused also executed an agreement and towards discharge gave the said cheque. Section 269-SS of I.T. Act only provides for penalty for its non compliance and it does not say that if money is advanced in contravention of that Section it would be unrecoverable. Documents executed prove the existence of a legally recoverable debt.

sir i paid the said amount by account payee cheque to my friend, and the same is reflecting in bank statement.   i am maintaing the books of accounts for the source of the funds.  the problem is that i have not taken any document singed by my friend, can i go for cheque bounce same.pls advice me.

submit the cheque and get it bounced and then proceed the case under section 138 of ni act...  but also take care of financial position of your freind and try to settle the amount in instalements.....

Originally posted by :siva shankar
"	he issued a cheque

sir if some has given the money in intrest and sying that as a friend loan then in that case the person has to proof the source of income 

I gave money to 1 person with 10 rupees interest, after two years he has paid 4 lack instead of 9 lacks, he has not refund the balance amount, I have the party cheqes, but the part closed that cheques with the reason "stolen in train", and also compliant gave in police station, so what I can do? Please advise.

I gave money to 1 person with 10 rupees interest, after two years he has paid 4 lack instead of 9 lacks, he has not refund the  balance amount, I have the party cheqes, but the party closed that cheques with the reason "stolen in train", and also compliant gave in police station, so what I can do?

 

Please advise.

procede with criminal or civil?

Thanks for all giving their valuble advices, after running around the Court for all these days at last that thug is accepted for paying money that too not full its only part of it,  our lawyer adviced to compromise and finish the case.