Stop payment cheque effects-reg

Balram (Querist) 21 January 2015 This query is : Resolved
Hello Sir,

I had taken a loan of 50000 from a friend relative. for the same i had signed a promissory note and gave a cheque.As per the term it was decided 3/- interest ie 1500 pm and 5000 principle paid to be together every month comprising of total 6500pm. i had paid the same to my friend for last 9 months and 1 months balance is due.For last 9 months i haven"t receive any call from lender.Know when i went to lender to pay last instalment, he is refusing to take the instalment and return my notes. i asked why in return he said that he haven"t receive any paisa till date.
i said that i had paid the amount to the so called friend and further said that he had collected the instalments on behalf of your name and previously you had said that i can pay in cash to that person.
the lender is talking in reverse mode that i do not have any link with that man
and i want my money back.
I further said that two of my known persons had taken loan from you and the same person is collecting instalments from them till now, then how could you reject the acceptance of my money which is collected by that person. he had i will call him and ask and later day both of them were on talking in their house.
now the second person ie my so called friend is making reverse drama of not taking of any money from me.And further both of them are advocate and they are blackmailing me of filling of U/S 138 NI Act.
Sir i have call records of both of their previous negotiations in which they accepted the taken amount and pending one instalment is due.
Know i want to know how could i face the situation and further i had given the instruction of STOP PAYMENT of Cheque when presented for clearance.
please give the needy information.....

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ajay sethi (Expert) 21 January 2015
you should have obtained receipt of payment made by you . since payments have been made in cash you dont have any receipt .under circumstances you cant prove [payment was made by you in repayment of loan .

in case cheque is dishonoured on presentation complaint under section 138 Ni would be filed aaginst you .

Rajendra K Goyal (Expert) 21 January 2015
You have not returned the payment / installment through Banking channel / by cheque. You have not taken receipt of money paid / installments paid. You have not paid back money / installments to the person from whom you took loan. The other party has cheques and pro-note with them.

If you lodge FIR for cheating etc, they would initiate 138 NI Act proceedings and other recovery proceedings.

You can have amicable settlement as the other party has documentary proofs with them.

Guest (Expert) 21 January 2015
Better you Lodge Police Complaint and obtain FIR mentioning the Cheque nos in detail.If at all they go for 138 NI the FIR would justify you.Consult Local Good Advocate.

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