Harassment by ilegal money lender. ni-138 .
Deepak dayaldas
(Querist) 17 June 2012
This query is : Resolved
I approached CA for business loan from Bank, Because of urgency of loan ,On Jan 2001 CA arranged loan of Rs.1.85 lakhs @ 30 % pm interest from private illegal money lender. Against loan money lender made sale deed (notrised ) of commercial property jointly owned by my brothers in favor of money lenders wife & also Power of Attorney of that property in money lenders name.
I paid total interest Rs.1.30 lakhs but due to business crunch i was unable to pay interest for some months. On 26/8/2004 money lender along with mussel mens came in my office & threaten me that he is going to lock my mortgage property as he has sale deed & POA. To avoid hand over commercial property I issued 2 blank undated cheques of Rs.2.00 & 0.75 Lakhs.
To settle the loan amount on 21/3/2005 I made bank DD of Rs.2.00lakhs and interest amount in cash but he refused to accept my bank DD amount and misused my cheque of Rs.0.75 by claiming liability of personal loan amount he claimed he given to me by bearer cheque dated 3/11/2004.Against receipt of legal Notice I replied through Registered AD post giving all these above mentioned facts. Money lender filled suit against me NI 138 Cheque bounce case on 30/5/2005.
Money lender is trying hard to take possession of our mortgage property . matter is in the court from 7 years I am feeling very tough to fight this case as Brother in law of money lender is very senior advocate for him . I request all of you to please advise me in the matter as due to harassment by money lender I am not able to concentrate even on my bread butter for my family.
Kiran Kumar
(Expert) 18 June 2012
well you are already into litigation....so at this stage it will be better to compromise the matter with him.
we dont know what kind of evidence has been lead in you matter but it seems that the money lender has done his home work well.
so try to talk to him and the get the things settled as soon as possible.
K.K.Ganguly
(Expert) 18 June 2012
It appears that due to your urgency in taking money from the person, you have signed sale deed. You might have signed more documents also as designed by the lender. Negotiate for a settlement with him in your interest.
SAINATH DEVALLA
(Expert) 18 June 2012
Deepak,
A viamedia amicable settelement with that money lender s the only available solution.I don't think you gain much running after courts.
Sudhir Kumar, Advocate
(Expert) 18 June 2012
You have no efective and timely remedy but to beg/buy mercy. As advised by experts above.
You said that
Against loan money lender made sale deed (notrised ) of commercial property jointly owned by my brothers in favor of money lenders wife & also Power of Attorney of that property in money lenders name.
So that money lender is a fool who did not implicate you in criminal case alleging that you cheated him by securing a loan from him mortgaging a property which does not fully belong to you.
Have you consulted local lawyer is the so called sale deed just attested by notary is valid to pass on the title.
Your brothers are also studit for not filing criminal case against you who has mortaged a property belonging to them without their consent.
You gave a blank cheque also so he need not use this trump card now.
You may be able to wriggle out of case of S/138 of NI Act if yu are able to prove loan as void due to exiting law and uneforeceable and then you can argue non-applicabliity of S/138. It will take years.
By the way whether 30% pm (360% per annum) interest allowed by RBI as per conditions of money lenders license. Were you living in an age 150 years back ? Did you know that you do not have resources to pay a loan which will double from Dusserha to Chrismas and again double by holi against double by nirjala ekadashi.
By the way did you seek legal advise if the said so called CA has done a task professionally correct by arranging such a loan and whether his license can be at peril.
Further if you needed loan for a banafide purpose then why you could not approach nearest available govt bank and why needed a tout in the garb of a CA.
Deepak dayaldas
(Querist) 18 June 2012
Thanks for you for responding in the matter... The person from whom i had borrowed money have no money lender license he is doing money lending illegally and he charged interest @ 30 % per anum . I have sufficient evidence to prove that he had given me loan on interest and taken security of commercial property and also he claimed that he had given me 0.75 lakh through bearer cheque to creat legal debt against me.He never given me money by said bearer cheque.
Advocate of money lender is his brother in law , practicing from last about twenty five years in same court, advocate is hiding and misguiding Court to protect his relative. I am afraid to complaint against advocate in Bar Council as he is very powerful and may harm me.
From last more than 10 years I have sleep less neights , worrying all about legal matters and consequences .
Hoping some of your good ideas may lead back to me in normal life once again.
SAINATH DEVALLA
(Expert) 19 June 2012
Do you think you will win fighting legally against him.
Deepak dayaldas
(Querist) 19 June 2012
I wish to fight the matter till logical judgement of court in the matter and even spent last penny I have had.
SAINATH DEVALLA
(Expert) 19 June 2012
best of luck.may the stars be on your side.
Shonee Kapoor
(Expert) 20 June 2012
All the best
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
