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nagesh.u (prop)     19 April 2014

Dear all

Dear All, I am Nagesh from Hyderabad. Recently i am given 4,50,000/- lakhs to one of my family friend as a hand loan for 6 months for a purchase of New house. At that time he was mortgae  agriculture land of 2 acres with my name for security. Now he was not repaid and misbehaving. he was promise to pay interest for every month before 10th, now he was not giving interest and principle also. I have a cheque of 450,000 for that and have a another cheque from his wife amount of rs 450,000 and taken a promisory note jointly amount of rs 450,000/- . now what i do for refund of my loan above.

Regards

Nagesh U



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 2 Replies

Kapil Gupta (Advocate)     19 April 2014

Dear Nagesh, you should credit this cheque in the bank and let it bounce. After that, you should make the FIR against him on the ground of cheating and dishonour of cheque u/s 138 NI Act.

bhagwat patil (Property due diligence 9422773303)     20 April 2014

Before going to 138 NI Act check the documents with you as For the purpose of this section, "debt or other liability" means a legally enforceable debt or other liability.   2) Take proper care and check the documents by local lawyer as ur friend may take disadvantage of provisions of MONEY LENDING ACT and put u in trouble.


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