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shivam gupta   03 October 2020

Friend not returning loaned money

Hi,

I had given a loan of about 2 lakhs to a friend of mine. As collateral, he has submitted cheques amounting 2.5 lakhs to me. The cheques had come from spedpost with his home address also mentioned.

Now I planned to resolve this matter on friendly terms, he has said that he will start returning the money soon. But it has been 1.5 years and he has not stopped picking my calls and responding to my messages. What legal step can I take?


Learning

 7 Replies

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     03 October 2020

1. Deposit the Cheques in Bank and when they bounce or get dishonored, THEN file private Criminal Case against the Friend.  When such Friend gets Court Summons, He will come down for settlement.  Do this thru a local lawyer specializing in Criminal matters.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com
 

Advocate Bhartesh goyal (advocate)     03 October 2020

Yes,deposit the cheques in bank for encashment.In case the cheque get bounced initiate the processing u/s 138 Of N.I.Act through lawyer.

 

 

   

Dr J C Vashista (Lawyer)     04 October 2020

The cheques were stated to have been issued 1 1/2  years back, might have become invalid during this period, isn't it?

Seek service of a local prudent lawyer for better appreciation of facts, professional guidance and necessary proceeding 

1 Like

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     04 October 2020

  1. Do you have any proof to prove you lent the money to your friend
  2. The cheque sent to you: Is it dated? If so what is the date
  3. Is the cheque filled up in all respects and signed by friend? If so how much time lapsed from the date on cheque? Whether the cheque has since become stale?

 

G.L.N. Prasad (Retired employee.)     04 October 2020

Contact the local advocates and as suggested by him draw a plan of action for submitting the cheques and remedy.

Sudhir Kumar, Advocate (Advocate)     05 October 2020

You only hope lies in cheques. 

 

But you have to prove that you are  holder in due course and not merely holder  of the cheque.

 

Mere having cheque in your name is no proof of you being a lender.

Arun Kumar   08 April 2022

i had also sent one if my friend around 6.5L money through multiple online transaction as he needed urgent for his mother care. he promised that he will return in 2 days as his salary will credited. but now he's saying that he will return in sometime and also not replying properly. i don't know his address as he has worked with me in a company. what should I do?

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