satvir singh Bagri 21 March 2020

cheque issued in lieu of loan taken

I have taken loan of rs two lakhs with 6000 rupay as interest per month& given two cheques of rs two lakhsnowi have refund money to him & paid interest per month.

Reply Follow

Quick Summary

If you've taken a loan and issued cheques as security, it's crucial to get those original cheques back once the loan and all interest have been fully repaid. The lender could potentially misuse these cheques, even initiating a false bounce case. It's advisable to formally request the return of your cheques in writing and, if they are not returned, consider filing a police complaint and sending a registered notice.

4 Replies

Advocate Suneel Moudgil (Advocate) 21 March 2020

take your cheques back from the lender

(Guest)

Sir immediately demand the Lendor in writing to give back the Original cheques which are in his possession of him becasue he may misuse the said cheques and may launch false cheque bounce case against you.