Payment of Scurity Deposit

Pradip Kumar Sarkar (Querist) 13 March 2008 This query is : Resolved
Sir,
My wife gave on Live Licence of our flat in Kolkata to one of my old friend's wife with Rs.8000/pm as licence fee & Rs.40000/ as security deposit (for 11 months).

The 1st month's Licence Fee along with the Security Deposit was paid to my wife by Cheque. The Cheque was issued by my friend from his A/c. in favour of my wife.

My wife has returned the Security Deposit by Cheque to my friend & not to his wife. Will this amount to return of the deposit to the Licencee ? or not ?

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Pradip Kumar Sarkar (Querist) 13 March 2008
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Manish Singh (Expert) 14 March 2008
It will be treated as you have returned back the Security Deposit to the designated person(the wife).

Prakash Yedhula (Expert) 21 March 2008
This can be treated as return of advance unless you had other transaction with your friend and your friend's wife disputes later on that the money paid was in respect of such transaction.

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