return of cheque

sekaranr (Querist) 06 June 2010 This query is : Resolved
sir, I have issued cheque to one of the person as loan and he signed agreement and finally I found the borrower no capacity to repay and cheating me, hence I returned the cheque and the borrower has filed case under 138 A stateing that I have to pay the money to him and cheque is bounced by me. Please advise how to take action against borrower.

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Devajyoti Barman (Expert) 06 June 2010
Since the cheque was drawn as an accommodation loan the presumption of discharge of any debt is not there in your case. So, not to worry you have got a ery good case to defend if any case u/s138 NI Act is filed against you.

Arvind Singh Chauhan (Expert) 06 June 2010
I do agree with Barman Sir.

Raj Kumar Makkad (Expert) 06 June 2010
You shall have to prove beyond any reasonable doubt that the cheque was issued for the reason, you mentioned in the query.

G. ARAVINTHAN (Expert) 07 June 2010
Is is possible for you to prove that the Cheque was issued to that person for specific purpose?

if so you can very well contest the case

sekaranr (Querist) 07 June 2010
YES I HAVE THE LETTER OF UNDERTAKING THAT HE WILL SETTLE THE PAYMENT WITHIN THREE MONTHS TIME.

Sukhija (Expert) 27 June 2010
Give him notice to return the cheque stating all the circumstances.
If u receive notice for dishonour reply it with ur story and ask for return of cheque immediately.
File police complaint against him also.

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