Fraudulently transferred Property / Shop
Querist :
Anonymous
(Querist) 09 June 2010
This query is : Resolved
I was purchased a Shop in the year 2005 @ Rs.175000/-, All payment made through cheques (in favour of (Mr. A) seller/agent) and DD in favored (Mr. B) actual land lord. Mr. A was fraudulently transferred this Shop in favour of his wife (Mrs. C) in absence of me (I was out of station). After a long dispute Mr. A and his wife (Mrs. C) issued two cheques from their joint account, as security of Shop till payment made against this shop. Duly compromise in the meeting held with family members and friends, Mr. A and his wife (Mrs. C) agreed to pay Rs.425000/- for the cost of Shop where cost of shop is Rs. 9 Lacs, asked me to deposit the cheques with amount of Rs. 2 lacs and Rs. 2.25 Lacs.. Unfortunately both the cheques were returned unpaid due to “PAYMENT STOPPED BY DRAWER” I have filed a complaint suite u/s 138 NI Act against Mr. A.
Let me advise what should be done to fast recovery.
s.subramanian
(Expert) 26 August 2010
It depends upon the reason for stopping payment. If ther is a genuine reason,prosecution will fail. Otherwise the prosecution will succed.
