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nilesh (n/a)     11 January 2008

Financially cheated need help

Hi its Nilesh here, i need your valuable suggestions. My problem is ""i have lend money in the form of cheque to one of my friend five year back as a help in his business, when i ask him now he is refusing to pay me the amount. The amount is quite huge nearly ten lacks or so. I consulted one of the lawyer near to my area he advised me that you could have filled a case against him with in three year of your payment period, But now we cant do any thing. I need your valuable suggestions that on how should i go legally handling this situation. Please help me .


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 4 Replies

Shambasiv (n/a)     11 January 2008

As your lawyer correctly pointed out, the suit for recovery of money cannot be maintained after a period of three years. However in case you are able to secure any fresh letter from him ageeing to pay the amount, then you can file a suit in view of section 25 of the Indian Contract Act

nilesh (n/a)     11 January 2008

Hello Harsha,

Thanks for replying. I talked with my friend, But he is not agreeing to write on any type of letter and give that he is having the money and would give in future. But i have the TDS forms that i got from him that i am paying interest on the money i have given him. But those TDS forms are also falls with in the period of three years. After that i did not received the TDS forms from him.

I would like to ask one small question to you? please reply if you can.

Is there no way that i can get my money back from him ? There is no such rule in our country through which i can fight ?

I am really in a terrible situation with a great financial loss. Please help me

Thanks

Nilesh

VIJAYA KUMAR (Lawyer)     27 April 2008

All the contracts are enforceable through court if it done as per the law. You have lend money through cheque without any contract about the lending. To make him liable accept some cheque through local panchayat by getting writing from him about the earlier transation

Lisha (customer care)     09 May 2008

Can any one tell me what Nilesh Should have done at the time of lending money so that he would not have fallen in such a trouble?

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