Blank cheque given - threaten by lender to present - reg

Stephen Marks (Querist) 23 September 2020 This query is : Resolved
Sir, I gave a blank cheque with my sign and without date and amount for a cash loan of Rs.1 lakh to my relative lender. However I repaid Rs.50,000.00 in past 2 years. Due to some financial situtaion i couldnt repay balance 50,000.00 But today I came to know that he his trying to present the cheque to bounce back and file a case. Kindly suggest me what to do. whether can i approach bank to stop payment for the cheque saying that it is missing. Will it be okay.

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Quick Summary

A person gave a relative a signed blank cheque for a £1 lakh loan and has repaid half. They are now struggling to repay the remaining balance and fear the relative will present the cheque to cause it to bounce and file a case. While stopping payment is an option, it may not prevent a cheque bounce case under Section 138 of the NI Act. Experts advise attempting an amicable settlement with the relative, possibly involving elders, and highlight that cash transactions over £20,000 can be illegal. It's strongly advised against making false complaints and to consult a local lawyer for personalised guidance.

SHIRISH PAWAR, 7738990900 (Expert) 23 September 2020
Hello,

He is your relative so try to convince him and take more time for repayment of the cash loan amount. You can stop payment of the cheque saying that it is missing but he will proceed and file case against you.

Rajendra K Goyal (Expert) 23 September 2020
Even if you stop the payment of the cheque, it will still attract the provisions of section 138 NI Act.
Case can be filed for cheque bounce.

Giving signed blank cheque you have authorized the holder to complete it and make you liable accordingly.

It would be better to have amicable settlement.

Message likes : 1 times

Dr J C Vashista (Expert) 24 September 2020
Seek his blessings for return of the cheque or face consequence.

Hemant Agarwal (Expert) 24 September 2020
1. Taking or Giving CASH of over 20,000/- is illegal and a Prosecutable Offence under the Income Tax Laws.

2. Bounce Cheque Case CANNOT be filed for illegal transactions.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com

Rajendra K Goyal (Expert) 24 September 2020
One should always avoid giving blank signed cheque even to his most near and dear. It can invite troubles at any time.

P. Venu (Expert) 24 September 2020
This forum cannot suggest you to make a false complaint. Any solution ought to be solve the issue truthfully and peacefully.

Message likes : 1 times

Sri Vijayan.A (Expert) 24 September 2020
So many imputations.
This platform cannot be used
Consult a local lawyer in person or negotiate with your relative for an amicable settlement

Sudhir Kumar, Advocate (Expert) 25 September 2020
beg for mercy.

krishna mohan (Expert) 25 September 2020
Lender is your relative and in good faith you have given blank cheque though not to be given. Settle the issue with elders amicably and get all cheques returned to you and complaint and notice withdrawn by him.

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