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Querist : Anonymous (Querist) 21 July 2018 This query is : Resolved
Sir
I given amount Rs 32 lakh to my friend by cheque and made MOU at same time.he given cheque but cheque bouns due to insufficient funds.i sent advocates notice
Now I want advice for best case .

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Sudhir Kumar, Advocate (Expert) 22 July 2018
if 15 days have not lapsed then you can give notice of cheque bounce and thereafter if he does not pay then you can file criminal case u/s 138 NI Act.

if this period has lapsed you can present the cheque again.

in any case you can file case of cheating and can also file civil suit for recovery based on what is written in MOU.

Sudhir Kumar, Advocate (Expert) 22 July 2018
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:-

(i) Who lacks business sense and cannot raise funds out of his own business and suddenly wants to be rich.

(ii) 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.

(iii) Who knows he can afford not to refund.
(iv) Who trusts his thick skin
(v) Who intends not to refund
(vi) 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 :-

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

Such loans are always given

(i) Without documentation.
(ii) Without witness
(iii) Without guarantor.
(iv) During cordial relations

Soon after giving such loan :-

(a) Relations are no more remain cordial
(b) Business started by such money (easy money belonging to other) invariably fails.
(c) Such loans always sink and not refunded.
(d) Person seeking such refund suffers at legal process.
(e) Person seeking such refund legally or by persuasion is socially criticised.

Sudhir Kumar, Advocate (Expert) 22 July 2018
repeated

http://www.lawyersclubindia.com/experts/Cheque-bouns--687196.asp

Guest (Expert) 22 July 2018
Already replied your query at another thread:
http://www.lawyersclubindia.com/experts/Cheque-bouns--687196.asp

Dr J C Vashista (Expert) 22 July 2018
What is the need to repeating same query time and again, which is absurd, shameful and ridiculous.
If you are dissatisfied with the response, guidance and advise of experts FREE OF COST you should have consulted a local prudent lawyer.

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