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Shuaib Ahmed (xyz)     24 October 2012

Signed blank cheques given

In favour of providing some amount of money, the lendor have taken signed blank cheques from me. Now, he is looking to put me into some sort of trouble with those cheques. I have heard that, he is looking to put me behind bars. I haven't cleared his loan yet.

                                                              I want to know what possible trouble he can cause with those blank cheques and what possible legal precautions should I opt for, before he go for any legal action against me. Please guide me.

Thank you!



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 7 Replies

Chetan Joshi (Advisory/Advocacy)     24 October 2012

Why did you give blank cheques rather that filling the exact amount of debt...??

 

He may have a laegal remedy if you've elapsed the timeline for debt....

 

AVOID a cheque bounce....

 

Thanx

Shuaib Ahmed (xyz)     24 October 2012

At that time, I was very stressed. I needed the money so badly, which had to be paid within 5 hrs to save my property. Hence, I trusted him and gave those cheques. Not only that, he took signed blank promissory notes and blank stamp papers too. I need a lot of help to come out of this situation. God only knows, what he is planning to do with those documents.

Chetan Joshi (Advisory/Advocacy)     24 October 2012

Shuaib....Dont worry...He has no legal right to claim anything beyond what you owe him...why dont you pay what you borrowed?

 

He has a cause of action only if you do not pay the borrowed SUM....

 

When did you promise to pay back? you got any written proofs?

 

He has certailnly caused undue influence under sec 16 of the indian contract Act....

 

Thanx

Shuaib Ahmed (xyz)     24 October 2012

First of all, many thanks for your precious time and concern for me, Chetan. Actually, that man is working with two of his other friends and I owe money to one of them and this guy is mixing up their issues as well and all three of them are planning to snatch all my properties. I posted an another scenario which played a hand in giving those signed documents to him, which I posted in the property law forum. However, I will copy and paste it here also, so that you can read it. Here it is...

I own a function hall, which is under the process of an on-going case in the DRT (Debt Recovery Tribunal) since past one year. It happened due to the failure of repayment of a loan in the required period of time, provided to me by a bank, to which the above stated property was given as a collateral security. I paid certain amount within a month of time since the case initiated, which was ordered by the DRT. And after that, till now, the case is under the process of date allotments or postponements for hearing. Now, the situation is, when I was ordered to pay a certain amount to the bank at that above stated time period of one month, I took some amount of money from a financer and due to immense pressure on me at that time, I agreed to an agreement, which were the terms and conditions of the financer in return of providing me that money. He made me signed a lease agreement of the above stated property of 18 years providing me rupees ten lakhs and above. Now, due to the failure of payment of that amount since past one year, this man with his other men have captured or confiscated my property and stole my important documents, files, receipts of various functions, cheques, etc. When approached to the police officials of that area , they said that this man is legally right, and I must say he made arrangements with higher authorities and planned well before grabbing my property. And after 3 days he sent me a notice from civil court, which permitted him to use the property, forbidding me to cause any interruptions and to maintain a Status Quo for a stated period and to appear in court at a stated date(about 15 days later) with my explanations. This is the scenario at present.... My question is, whether this lease agreement stands legal or not, when the other party was well-aware that the property was already under-going a case of debt recovery in the DRT ? And even if the court accepts this agreement, then, is it possible to achieve possession of my property and make an end to this agreement asap, if I am willing to pay the lease amount including the fine charges if ordered by the court. Can this happen? Can I get a stay order on the Status Quo? Please help with a positive solution and opinion. I would be very thankful and appreciate any provided help. Thank you for your precious time !

Shuaib Ahmed (xyz)     24 October 2012

Though I am ready to give back his lease amount as soon as I can arrange it, he will still cause trouble to me as his other partner claims that I owe him 1crore 90 lakhs, which is almost 4 times more than what I took from him at that time to save my property from DRT. At that time of rush hour, he told me to repay 1 crore 90 lakhs in return of the 52 lakhs he lended me, to which we both agreed verbally, but there is no written agreement. And instead of that I am offering him a property worth 52 lakhs, but he isn't in a mood at all to take that. He wants a complete 1crore 90 lakhs and the other wants his lease amount and along with interest rates, they are claiming nearly 3 crores. Now I really get to see their wicked side. But, my first priority is to get back my function hall asap and to get protective against their legal actions courtesy signed blank documents. But still dont know how can I achieve the above 2 goals. I am in talks with couple of attorneys and they are studying the case and yet to take a solution out. I dont think the court will grant me my property back in our first meeting itself. God only knows!!!

YOGESHWAR. (ADVOCATE HIGH COURT-criminal /civil -youract@gmail.com)     25 October 2012

You can not get proper solution for such a big case on a public site, however learned experts can give you line of action which may deffier from person to person.

IiTHIS HAPPENS IN MANY CASES WHERE LOAN IS TAKEN TO OVER COME TEMPORARY PROBLEMS AND AGREEMENTS ARE SIGNED WIHTOUT LOOKING TO ITS COSEQUENCES LATER. HOWEVER IF PROPERLY CONTESTED YOU CAN EASILY COME OUT OF THIS PROBLEM.

1 Like

Shuaib Ahmed (xyz)     25 October 2012

Many thanks for your reply on this matter. I am in serious talks with a couple of attorneys holding a good record. Praying hard for an effective solution.


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