Srinivasan (Finance Consultant) 30 September 2014

Rs. 20 lacs lent to my friend and not returned last 3 years

Hi,

I lent Rs. 20 lacs to my friend with cheque as a proof (without date) but he has not returned the amount and not giving the interest for last 10 months.

I don't have any other proof other than the cheque and he closed that account now.

I have the cheque and how i can take legal action against him. I am very much required that amount but he has not given that amount.

I would like to take action on his cheating and atleast he should be in the prison for few months for not returning this amount.

Could you pls suggest on that?

Thanks,

Reply Follow

3 Replies

Hardeep (Business) 01 October 2014

Put current date, present for payment, once returned due account closed but cheque presented within 3 months of date on it, action under S. 138 NI Act lies.

before, try to get evidence- phone calls , e- mails etc. that it was an amount loaned.

Also, hopefully you gave the loan via cheque else you may have to explain the cash.