Money lended to a known person but he is refusing to pay me
bremkumar
(Querist) 29 August 2015
This query is : Resolved
I have lended 2 lakhs to a known person. In return he promised me to pay 4 lakhs in 10 months. We have registered a document that I have given him 4 lakhs for his business development purpose and he would return me in the mentioned period. But now he refuses to pay me 2 lakhs which he promised me to give as a return. I have six cheque leaf of him but there is no money in his amount. The witness signed by his side was a fake one. How to get back the balance money from him. please suggest me to face him in legally.
V R SHROFF
(Expert) 29 August 2015
DEPOSIT CHEQUE AND FILE 138 ON DISHONOUR
Sudhir Kumar, Advocate
(Expert) 30 August 2015
i addition case of cheating can also be done as he gave you cheues of blank account.
Sudhir Kumar, Advocate
(Expert) 30 August 2015
money given to friends and relatives is always a charity in the garb of loan.
Rajendra K Goyal
(Expert) 30 August 2015
You are charging such a exceptionally high rate of interest, in general any person accepting such high rate of interest would not be able to return the debt in just 10 month time.
Have you licence to lend money?
Does the landed money was duly accounted for?
Does the money was paid in cash or by cheque.
Payment of 200,000 should have been paid from account and not in cash.
However, you may deposit the cheques, on bouncing file case u/s 138 NI Act.
Can also file criminal case for cheating.
Dr J C Vashista
(Expert) 30 August 2015
What is your view qua rate of interest on 2 lakh for 10 months growing to 4 lakh?
Deposit cheques for realisation and file complaint on its dishonour.
Consult a local lawyer for professional advise and proceeding.
SAINATH DEVALLA
(Expert) 30 August 2015
Has he already paid U 2,00,00? Are U expecting him to pay back the additional 2,00,000 he has promised?
Why do U bother if his account is full or empty.Get the cheques for clearance and once dishonoured send him a statutory legal notice.The rest UR advocate will take care.
Hemant Agarwal
(Expert) 19 May 2017
Kind Attention : bremkumar
AS a courtesy, Kindly update status of your matter.
Did you file 138 matter, as advised by above experts.
Keep Smiling .... Hemant Agarwal
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