Kg 18 November 2016

Recovery of loan

I gave loan of Rs. 10 Lacs to one party who executed a promissory note and issued a post dated cheque and also issued one letter acknowleding therein the receipt of money and further declared in that letter that he will mortgage his Flat to me in 30 days but 60 days passed but he refused to mortgage the flat hence I filed RCS for specific performance, which is pending

In the meanwhile on due date of cheque, I deposited his cheque on 15-9-2016 which was dishonored and so party came to me with requests that he is paying within 15-20 days but he did not pay till today and not only that but now whenever I go to his house, he avoids me

Kindly guide the speediest way to recover money from him

regards

Thanks

HARIOM

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3 Replies

Ashok Thakur (Senior Lawyer and International Law Consultant) 20 November 2016

Dear Hari Om, I feel sorry for your TRAP. Post Dated Cheques do not come within the ambit of Negotiable Instruments Act. The Party you lended Rs. 10 Lacs is playing with you demolish your future claims on account of limitation of time.

Irrespective of your pending RCS law suit under the Specific Performance Act, You must immediately RE-DEPOSIT the bounced cheque in the your primary bank account close to your place place of business (in case of Current Account), or the Bank which has your home address (in case of savings bank account) in order to PROSECUTE him under the Negotiable Instruments Act besides his full fleged prosecution for an offence of Cheating under Section 420 IPC with an expert representation in the Court.

Ashok Thakur, Senior Advocate and P.C.

AKT Law Group (+91 845 900 4886)

Kg 24 November 2016

Sir Thakur ji,

Please note that the said cheque is already 90 days ole and hence re-deposit is not possible

Sirji,

Somebody told me to file Summary case with prayers therein to pass decree without withdrawing the RCS which is paneding because the prayers in RCS is defferent it is only for injunctionand declaration though the mattter is same

And also feel that sec.420 of IPC is perfect for him

kindly guide