Money recovery.
Ramesh
(Querist) 25 June 2010
This query is : Resolved
Dear Experts of the forum,
Sir/s,
A Builder from whom i purchased flat (I paid for my flat and there is no dispute) , had taken a loan on interest from me with a promise to return the money within 6 months along with the interest, and gave me three blank checks ( signed & undated ) in the year 2002; he failed to return me the money, and dodging the issue saying he needs some more time to return the money, but i have no hopes.
He is having terrace rights (Of our Flats)along with the land lord .Can i approach Court for transferring the terrace rights ,under 138A case ( after due process);the problem here is the check he gave me is personal, but Flats are constructed on firm name with one more partner who is staying in the same premises as i am staying, and also knows the fact.
Can some Expert/s, kindly suggest me way out for my problem PLEASE. I am from AP State.
With regards and Thanking you ALL in advance.
Manish Singh
(Expert) 25 June 2010
why don't you encash the cheques and when the same gets dishonoured, filed the criminal case u/s 138 of the negotiable instruments act.
this would make him criminally liable thus he would be bound to return your money.
you may find some problem u/s 138 since the cheques were blank and were given in as security of the loan as there are some judgments agaisnt your stand.
also, you go for recovery of money along with damages in a civil suit.
having the terrace rights on your name depends upon the settlements arrived at between you and him and further more between him and his partner.
