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Ramesh   20 December 2018

Cheque bounce -- interest and court case expenses

One year ago, Person borrowed 1,20,000/- from me to develop his business and gave me pronote.  He paid me interest for few months and stopped paying interest.  When I asked him to settle the loan and pending interest, he issued a cheque for principal alone and said he will  pay the interest in 1 month.  I deposited the cheque  and the cheque was bounced due to insufficient funds.  He never picked my phone call, so I sent legal notice and then filed S138 private complaint.

He called me and said he is ready to settle the principal alone. He is adamant and not willing to pay either the unpaid interest OR the court case expenses.   I don't want to bear 11 months unpaid interest, legal notice fees, S138 private complaint fees, mount, case conducting fees.

If he pays the cheque amount to the court, what will happen?

1) can I request the judge to pay the interest and court case expenses in addition to cheque amount?
2) interest can be claimed from date of depositing the cheque or legal notice date or S138 case filing date?
3) how much interest can be claimed?  2% interest per month is in the pronote
4) how much court case expenses will be allowed.  So far I have paid 9000rs to lawyer towards sending legal notice, filing S138 private complaint and case conducting fees.

Thanks in advance



Learning

 1 Replies

Siddharth Srivastava (Advocate)     20 December 2018

under latest amendment you are entitled to interest, cost etc. consult your lawyer.
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