Deepak dayaldas (service) 17 June 2012

Harassment by private illegal money lender-cheque bounce

I approached CA for business loan from Bank, Because of urgency of loan ,On Jan 2001 CA arranged loan of Rs.1.85 lakhs @ 30 % pm interest from private illegal money lender. Against loan money lender made sale deed (notrised ) of commercial property jointly owned by my brothers in favor of money lenders wife & also Power of Attorney of that property in money lenders name.
I paid total interest Rs.1.30 lakhs but due to business crunch i was unable to pay interest for some months. On 26/8/2004 money lender along with mussel mens came in my office & threaten me that he is going to lock my mortgage property as he has sale deed & POA. To avoid hand over commercial property I issued 2 blank undated cheques of Rs.2.00 & 0.75 Lakhs.
To settle the loan amount on 21/3/2005 I made bank DD of Rs.2.00lakhs and interest amount in cash but he refused to accept my bank DD amount and misused my cheque of Rs.0.75 by claiming liability of personal loan amount he claimed he given to me by bearer cheque dated 3/11/2004.Against receipt of legal Notice I replied through Registered AD post giving all these above mentioned facts. Money lender filled suit against me NI 138 Cheque bounce case on 30/5/2005.
Money lender is trying hard to take possession of our mortgage property . matter is in the court from 7 years I am feeling very tough to fight this case as Brother in law of money lender is very senior advocate for him . I request all of you to please advise me in the matter as due to harassment by money lender I am not able to concentrate even on my bread butter for my family

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R Trivedi (advocate.dma@gmail.com) 18 June 2012

Deepak Dayaldas !!

You made a DD of Rs. 2.0 Lacs but he refused to accept, but who stopped you from making the DD of Rs. 0.75 Lacs and sending the same to him with the reply of notice ??? Matter would have been closed then and there.

If you have the financial strength now, please settle the issue as your mortgage propety is stuck and you have the right to settle your dues to relieve this porperty, this case may go on, but once you settle, court may take it lightly. The pertinent question for the court is: How can the complainant keep the hold over the property papers while continuing with the NI case ? The substantial security is with him. This is bl**dy ridiculous, both the cheque and property were given as security, he cannot keep one and take advantage of other. But hat is the class of our judicial system at lower level, your lawyer ofcourse would have been too busy in his dates to bother about such finer aspects.

A blind faith in services rendered by anyone wheather it is Doctor, Lawyer, Plumber, CA, Contractor etc will always damage you. Wake up for your rights, ask questions.