Just like if chaque is bounced, then we can file the criminal case under NI 138 act, Can it be possible to do the same if person who hold the promissory note demanded the money to borrower and he failed to do so, then can we file criminal case against them?
I gave some money to a friend who were in need of money. In exchange I got in wriiten on Rs100 Promissory Note to return the money with interest. The Promissory Note is notorized.
Despite I send the repetative demands to return my money, borrower did not responded. I filed the Money recovery suit in the court. But there he is not responding to court notice. There are 3 notice sent ..but no response. I do see this friend in the city but he is not giving any response. Promissory note is in time limit.
What action cout can take? What will be the best way to find about his property details and income records?
So I want to check whether I can file criminal case or not for not returning the money, breach of trust etc.
If I able to file criminal case then will it affect the money recovery suit too?