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Amount paid on hundi

(Querist) 05 February 2016 This query is : Resolved 
Sir I have given some amount on hundi to a firm. On due date I.e. after 90 days he denies to renew or repay the amount what action we take so that we will recover our amount.
Hemant Agarwal (Expert) 02 November 2016
1. IF the "hundi amount" is legitimate and shown in books of account for Income Tax purposes, THEN a "criminal case" of cheating can be filed. Also a Civil Suit can be filed for recovery of the hundi amount.

2. IF the "hundi amount" is not legitimate and not shown in books of account for Income Tax purposes, THEN such amount is not recoverable, by legal means.

Keep Smiling .... Hemant Agarwal
VISIT: http://www.maharashtra-society-help-forum.com
Rajendra K Goyal (Expert) 02 November 2016
Follow the procedure under Negotiable Instrument Act. Get the document be presented, noted and protest for non payment, file case for recovery.


Please visit:

http://www.lawyersclubindia.com/forum/noting-and-protest-5960.asp


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