salila (student) 21 October 2023

Firm cheque

hello sir,

x a single prop firm took loan of rs 10 lacs in 2018 . in 2019 to2022 he repaid full in cash. the undated cheque was filled date in 2023 by payee and got bounced.

how can be proved that in cash was repaid .the amount was withdrawn from single prop firm.pl help and guide .thanks

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6 Replies

T. Kalaiselvan, Advocate (Advocate) 21 October 2023

On the basis of documentary evidence for repayment of loan amount, you must fight the cheque bounce case.

Why did you not demand the return of cheque when you have already repaid the entire loan amount, besides, why did you repay the loan amount by cash if you had obtained the same by cheque or other mode ?

You have to look for documentary evidence for repayment.

Sudhir Kumar, Advocate (Advocate) 23 October 2023

No bothing was due?

salila (student) 23 October 2023

No bothing

means ?

P. Venu (Advocate) 23 October 2023

The posting is short of material facts.

What are ther terms on which the loan was advanced? Was any documents executed? What was the rate of interest?

How was the repayment done? Was any receipts issued?

How come that the undated cheque is in the possession of the lender?

salila (student) 23 October 2023

RESPECTABLE VENU SIR,

THOUGH IN 2018 BESIDE OF CHEQUE A RECEIPT OF MONEY WAS EXECUTED.NOW AS PER NOTICE OF 138 ISSUED AFTER OF 15 DAYS BOUNCING,THEY DEMAND OF RS 10LACS SAME MONEY AFTER 5 YRS I.E WITHOUT INTT .WE HAD GIVEN MONEY SOME THROUGH ACCTT AND SOME THROUGH CASH FOR WHICH WITNESS IS AVAILABLE .THOUGH CHEQUE WAS ISSUED FROM SOLE PROP FIRM -WHICH IS NPA AND UNDER SARFACIE ACT .

ONLY MATTER IS WHETHER CASH GIVEN MAY BY FIRM BE GIVEN IN EVIDENCE WITH WITNESS WILL ACCEPTLE .AS BEING NPA ACCTT NO MONEY COULD BE GIVEN THROUGH LIMIT ACCTT.

YOUR KIND GUIDANCE HAS KEY VALUE .