Dear Lawyers,
My friend deposited (2 Lac)the amount to one chit company for fixed deposit. He gave him the deposit receipt and cheque for the deposit amount without date. He told my friend that" fill the date and cancel the deposit whenever you want and just inform me one month before". After that he paid the interest on monthly basis for 6 months perfectly. Again he asked to deposit more funds since he needs it. my friend again invested(3 Lac) since the interset payment is good. then after 3 months he paid interest perfectly. Again he requested to deposit more. but my friend tod him that i do not have fund to deposit further. after that he paid for only one month interest and he did not paid . my friend asked him and he said my fund locked with some businessman and do not worry , i will pay all the arrears imm after getting from that businessman. he dragged for more than 1 year. now he closed his financial institution and sarted gold business. That guy is having money and he doesn't want to return. He knows the local gundas etc since he is having lot of money cheated from others.
Please give me the kind advise to get my friend money back as early as possible with the legal procedure. Can he deposit the cheque and file NI 138 if cheque get bounced? But NI 138 is a lengthy process. Can he file a case with local police station or commissioner for cheating (IPC 420)?can he file a cse on consumer court? can he lodge a complaint in economic criminal office?
Please tell me which one is best process and get his money back since he needs the money urgent for his medical expenses. he believed his friend and deposited but that guy cheated him. Now he needs his principle only and he is ready to waive the interest arrears.
Looking for your kind suggestion to come out from this riddle,
Regards,
Harish
