Cheque bounce and over valuation of land


Hi,

I have given some amount to a friend to expand his company and out of that he repayed partial small amount and for the remaining amount he has given the cheques. he mortgaged his agricultural land as a security which he inflated the land value by 5 times and cheated me.

out of the cheques given 1 cheque has been bounced in May 2012 and he did not repay that amount. when I asked him about that and remaining scheduled payments he has given me the cheques, when deposited those cheques are bouncing.

Can I book a criminal case for over-valuation by 5 times for his land and cheating me? and also cheque bouncing?

-krish

 
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  • Have you lent money with a written understanding on business terms, to share the profit or loss?
  • It appears 'NO' or have you lent money on specific interest terms, period of return etc.? If no, you can file a criminal case for the cheque-bounce case and recover your money.
 
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Yes,you can file cheque bouncing case u/s 138 0f N.I.Act against drawer for get him punished under the said provision.You can also simultaneously file suit for recovery of cheque amount u/o 37 of C.P.C.

 
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practising Advocate

The charge of cheating may be difficult to prove ,as it was your duty to cross check the valuation made (refer : Buyer Beware)

Better file cheque bounce cases and under the pressure of imprisonment and fine as punishment , recover your money.

 
Reply   
 

Seems you have passed the time to give notice on one cheque which has bounced.  You can represent that if it is still within time and give notice to the other party.

Consult an advocate immediately since you have no time for discussions.

 
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Assistant

I adher to the above learned Advocate's opinion

 
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ADVOCATE

Better to file case u/s 138 N.I. Act for cheque dishonour.

 
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