MY YOUNGER BROTHER WAS RUNNING A RETIAL SHOP. HE BORROWED LOAN FROM MARKET,KNOWN,RELATIVES ETC. OUTOF SOME ARE ON VERY HIGH INTEREST RATE. HE GIVEN THEM BLANK STAMP AND BLANK CHEQUE. NOW PRESENTLY HE WAS MISSING. WHAT CAN WE DO AGAINST THEM TO PROTECT BROTHER.
Respected All,
My younger brother has taken borrowings on high rate intt. @ 5% to 15% monthly and distributed cheque and non judicial stamps to them. He already paid more than principal amount to them against interest. But still pending theirs principal amount. Now he is unable to payment them.Please provide me some judgement, which are against the 138.
Regards
DG
NI ACT 138
I was issued blank cheque before 5 years.
Now they are fill with huge amount and file case NI Act 138 for non payment due to account closed.