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Abhijeet (Marketing Manager)     13 August 2010

Loan Relisation: Please advise asap

I have lent a person Rs. 240,000. He had given me a check for 240,000 for July 1st. On 9th July he paid me in cash Rs. 200,000 in Cash. 

Now the problem is to pay the following 40,000 he is postponing and not taking my calls. I cannot present the cheque to the bank as i have taken 200,000 in cash and the cheque is for 240,000.


I have the Cheque, the Agreement and a promissory note. Whom do i approach to help me get my 40000. ??


Please guide


 4 Replies

DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE )     13 August 2010

Better solve it personally , otherwise if try to go to court it will raise so many other questions.

sanjeev narula (advocate)     13 August 2010


Present the Cheque for clearing ,

and sue him for the recovery of  full amount u/s 138 NI Act 

he will settle the matter


madhu mittal (director)     05 September 2010

go for civil suit for your balance amount


Abhijit,none above has made the issue clear to U,I feel,but suggestion of Mr, Shahsi is right,if U will present cheque of Rs.240,000/-,U may Urself may be framed,from where U got this money,show the income tax returns which can prove that U actually had enough money to fund Ur friend,do the bank statements prove Ur stand in any way.

Moreover according to income tax law money transactions more that Rs.20000/-, in cash are not legally enforceable,U can be prosecuted and penalized for Rs.220000/- which is a money exceeding Rs. 20000/-,the limit of cash transaction.

And if U are proved, doing money lending without having license ,then also Ur claim for money would commit suicide,moreover U could be penalized also.

Hope U got my point,just use behaviouristic tactics,Ur friend might not be knowing all these legal points,so chances are,if he had paid U Rs.200000/-,he would pay U another sum of Rs.40000/- also,if he really owes U.

Feedback please.

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