Whether i am a accused as a mediator?


X wanted loan and he approached Y

Y Got the file to Z

Here Y and Z are middlemen

Z had heard that a person called A does finance so Z approached A with the file.

Z agreed to Arrange Loan. 

meeting was arranged where X,Y,Z,A and few others present.

Terms were decided like Amount, rate of interest, and commission in favour of A is included in the MOU.

A demanded amount of 5.5 lac as gurantee charges from X . So X gave present date cheque to A and took a Post dated cheque of 15 days of the same amount. the amount 5.5 lac had to be refunded to the party X along with the loan amount or if he is not able to arrange loan .

one point was added in the MOU that "in unforeseen reasons if A is not able to arrange the loan then he has  to return the advance amount that s 5.5 lac."

and it was also that this MOU stands good till 31st march.

PArty A has failed to give loan and he is borrowing time from the party X .

Y and Z had asked X not to give time but still X continued giving A time.

 

My question is Does the mediators are responsible for the Advance amount refunding.are they liable?

only one mediator that is Z  has signed as witness in the MOU.

PArty A is not having funds in the account of which he has given the cheque

 
Reply   
 
Advocate

Mediators are not liable to refund the advanced amount if they have not stood as guarantors.
 
Reply   
 



Thans for your reply sir,

 

Can the borrower in any ways try to harrase us by putting un necessary charges against me. I have signed as a witness along with two more people . if he does what should i do

 
Reply   
 

Thanks for your reply sir,

 

Can the borrower in any ways try to harrase me by putting un necessary charges like against mefor  wastiing his time and getting a fraud lender(which i got to know later and informed the same to the borrower) . I have signed as a witness along with two more people . if he does what should i do

 
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Advocate

If you know the borrower, there is no irregularity in doing the witness. He may put pressure but I doubt he would take legal action.
 
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Dear Sir,

I personally dont know the borrower. I had put signature just as to witness the transaction and the authenticty of the borrower and the lender .

 
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Dy Director

in case of civil suit the mediators are not liable.  But if either party files criminal case of cheating then mediators are liable as abettors

 
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Dear Sir,

But The MOU was between the two parties and cheque was exhanged between them. If one of the cheque is not honoured then how can a mediator be responsible sir?

 
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Sir

The what is the way out as truely speaking i never knew the person was a cheat.

Please guide me how to prove i am not abettor

 
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