Validity of legal documents-rs.20/- stamp papers

Nandukumar Kamat (Querist) 26 December 2017 This query is : Resolved
Dear Sir,

I am taken loan of rs.5 lacs from my boss. (Year-March-2012)
But my boss given loan from his relatives bank account.
i given 5 cheques of Rs.1 lacs each to his relative name as security purpose.
& i given in writing on Rs.20/- stamp papers with notarised.
Matter mention in the stamp papers -- Rs.5 lacs is interest free & will repayment of Rs.8500/-per month in Five Years.
But after five years my boss done the my salary accounts settle. (On Ruff Papers not any proper evidence)
I Given my 5 Years salary & deduction details :
MY total Salary & Bonus 5 Years == 1675000/-
MY salary deduction 8500/- per month ==500000/- (5.10 Lacs)
Salary/Bonus received in Cash/Cheque ==1160000/-
After settlement Final Cash Given me = 15000/-

But my repayment of loan Rs.8500/-directly taken my boss at the time of Settlement.
Actual repayment not done to his relatives. Rs.5 lacs outstanding on my name his relatives accounts with security documents.
i asked for document and he replied the document will be tear.

I resigned the job in July-2017. But still my security document not given.

In above matter any problem arise to me.

Kindly advise the same how to resolve the matters.

Thanks & Regards
NK

Follow Query

Report Abuse

DR. DIMPLE JINDAL (ADV.) (Expert) 27 December 2017
1. Have you mention any date on the security cheques?
2. Have you written "for security purpose" anywhere on the cheques?
3. Have you given anything else inspite of five cheques of one lakh each?

Sudhir Kumar, Advocate (Expert) 27 December 2017
Not clear.

Whether you re-paid to loan.

when was loan due

when was deduction made from salary.

Nandukumar Kamat (Querist) 27 December 2017
A) Following date mention on security cheques :
01.01.2013---1 Lakh
01.09.2013---1 Lakh
01.03.2014---1 Lakh
01.01.2015---1 Lakh
01.12.2015---1 Lakh
B) Not written for security purpose anywhere on the cheques
C) Not given anything Inspite of cheques
D) 5 Years Salary accounts settlement in March-2017 and that time loan amount deduction made.