One of my friend borrowed the money and after some time he issued the cheques to clear the loan amount. When deposited those cheques, it was bounced. I gave him sufficient time (30 days) to repay but he did not repay the amount, I issued a lawyers notice. Still he did not repay the money hence I went for 138 suit. Now it has come for hearing. He is acting very cleverly and threatening me that if I file a case, he will file harrassment (I have not done anything to him) case against me. He said "If you send me behind bars for 1 year I will send you for 10 years". Even I was comprimised on the interest and told him that I will only charge nominal interest (bank interest). He mortgaged his land against the amount borrowed.
He paid only very small amounts like 2k, 5k but the amount he needs to pay is 30 lakhs+. Now it is in the court and coming for hearing, What is the course of the action I need to follow? If he is paying small amount can I take it and sign for that? Can I file a police case?
total dues involved are RS 30 lakhs . you have issued legal notice on account of cheque dishonour . accused has failed to pay loan amount . in the event accused is willing to compromise he can alwaysmake an application for compounding the case .
2) you have mentioned that loan was against morgage of property . whether mortgage deed is regd?
3)in addtion to criminal proceedings you ought to file civil proceedings for recovery of your loan amount