N.I Act, Address not known
sivasankar
(Querist) 15 March 2010
This query is : Resolved
I have given a sum of Rs.1,00,000 to raj. I have written a pro-note signed by both,
in that accepted by him to pay 18% interest.
After repeated request to return the principle amount, Last month he has given a cheque for Rs.75,000. I have submitted it to bank, and it's bounced back.
Also, in pro-note, he has given a address. And now, I learned that, he shifted to another address.
Now, my problem, is I don't know where he is residing. So how can I send a notice? And in future he can argue, that he has not received the notice in time??
Another question, This N.I Act is for the cheque amount Rs. 75000. He has to pay another Rs.25,000, for which he has not given any cheque. So how can I approach it, to recover the whole Rs.1,00,000.
Please clarify. Thanks in Advance
R.R. KRISHNAA
(Expert) 15 March 2010
You can send the notice to the address mentioned in the pro note. It is well sufficient. For the remaining 25,000/- you have to file a civil suit for recovery of money.
B K Raghavendra Rao
(Expert) 15 March 2010
You may file money recovery suit in a civil court for the entire amount of Rs. 1 lakh. You may also initiate action against him under NI Act. If you do not have his address, you will put in all efforts to trace his address. Otherwise, you will not succeed in court. Time (six months from the date of cheque) you may re-present the cheque only after tracing his address so that immediately after cheque bounce, you may send the notice to correct address.
Raj Kumar Makkad
(Expert) 15 March 2010
I have similar opinion as pf other experts on this subject.
Parveen Kr. Aggarwal
(Expert) 15 March 2010
The best course is to get the new address of drawer and serve notice and proceed further. However, if his new address is not known to you, notice at the last known address of the drawer may be served.
A payee of a dishonoured cheque has both the remedies available. He may institute a suit for recovery of the entire amount outstanding towards the drawer (debtor) and may simulataneously file and prosecute a complaint under section 138 of the Negotiable Instruments Act, 1881.
Sachin Bhatia
(Expert) 21 March 2010
Send the Legal notice to the address mentioned in the pro note. You can file civil suit for recovery for remaining amount.
