Madhusudan (propriter) 21 February 2015

10 lakhs cheque bounce

I'm a businessman 38 years old, I gave Rs 10 Lakh CASH for Interest in July 2013 for another business person. For 6 months period, but person paid interest 6 months but not return 10 Lakh as of today (February 2015). For guarantee I took 3 cross cheques + aundiment pronot + Rs 200 e-stomp papers ( all he signed for MT) still i not produced cheques to bank...

I asked him many times, but he not giving back & also 1 year he not paid interest too. I was just waited in hope. Now seems he don't wanna return, actually he is well settled & he neglecting me Or he don't want to return! I don't know.

I am thinking shall I lodge complaint in police station? Is that police accept complaint? regarding this?

I'm not licensed pawn broker or financier,
What grounds base shall I put case on him? And is that really through court am l get back my money?

In This tension my little health seems spoiling, whenever I think I feel so depressed or feeling guilty,

I am really panic since a year.

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5 Replies

saravanan s (legal advisor) 21 February 2015

is it a post dated cheque.in that case the cheque is valid for three months from that date and not after that.so you have to drop the cheque within that time and if it gets bounced the bank will issue a checque return memo.with that you have to send a demand notice to the person and this must be done within 30 days of recieving the return memo.if he doesnt care to settle the amount you can file a case u/s 138 nia.if proved the defaulter will get five years imprisonment and has to settle double the amount in the bounced cheque

Kappil Cchandna (Expert Bail & Criminal Defence Lawyer at Delhi Supreme Court of India) 22 February 2015

Dear, Yes you can file a police complaint for the fraud and cheating committed and also drop the cheques so that you can pursue further in recovering the said amount and you can also file a recovery suit as well ..... Kapil Chandna Adv 9899011450

SANTOSHSINGH. (ADVOCATE sardarsena@gmail.com) 22 February 2015

Ten lacs is not small amount so every body will take your story with various motives.

Move wisely. Immature advice like police report and fraud etc will bring more troubles for you.

Easier method is civil case where you can get decree and it will remain alive with interest for TWELVE years.

You can also put NI 138 case but with an expert advocate .

Irrational and rash actions may bring more problems. Remember there may be similar counter options to the other side. For workable proper legal solutions, send details by mail.

Madhusudan (propriter) 22 February 2015

case under 138 somebody pls explain me

recowerymoney (professional-recowerymoney@gmail.com) 06 April 2015

There are simple legal solutions for legal debts by summery suits. You will get update interest and decree will remain alive for twelve years . There are parties who also buy legal court decrees and pay you upfront.