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ghanshyam hemdev (director)     06 February 2013

Cheque dishonor

I am in the bussiness of lending money on intrest and face a long legal hurdle whenever we have a cheque dishonored.

What are the usual delaying tactics applied by the defence and how to overcome most of them.

What precaution letters do I take to ensure that most of these hurdles are not met.


 2 Replies

Nadeem Qureshi (Advocate/     06 February 2013

Dear Querist

if you have any Licence for lending money on interest, no hurdle will be face in the cases, you should executed an agreement ( Loan Repayment Agreement)

Feel Free to Call

Nadeem Qureshi (Advocate/     06 February 2013

Offence of moneylaundering.- Whosoever directly or indirectly attempts to indulge or knowingly assists or knowingly is a party or is actually involved in any process or activity connected with the proceeds of crime and projecting it as untainted prope ty shall be guilty of offence ofmoneylaundering

Punishment for moneylaundering.- Whoever commits the offence of moneylaunderingshall be punishable with rigorous imprisonment for a term which shall not be less than three years but which may extend to seven years and shall also be liable to fine w ich may extend to five lakh rupees: Provided that where the proceeds of crime involved in moneylaundering relates to any offence specified under paragraph 2 of Part A of the Schedule, the provisions of this section shall have effect as if for the words" which may extend to seven years", t e words" which may extend to ten years" had been substituted.

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