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Tejas Patel   30 March 2023

Rs 50 stamp paper misuse

Dear sir, 
 I had taken a total loan amount of 8L in staggered form from start of 2019 to  end of the year. Since my amount was rising the lender demanded a signed Rs 100 stamp paper and 2 blank cheque. Since Rs100 stamp was not available at that time he demanded to pass on Rs 50 stamp paper 2nos to him which I couriered him. 
The amount I received was through bank cash deposit from other state. Since covid my situation became worst but some how I managed to get back and since 2021 I'm repaying the amount through bank transactions only. 
I have already re paid 6.5L through the bank but the account no he had given me belongs to some other persons current account. 
Rest balance 1.5 L would be paid within 7-10 days.

But now the situation is such that he's demanding 25L total on the 8L he gave me. 
Total transactions are through bank , the lender had deposited cash at all time in my account and I have repaid him though in others account. The account no. was provided by the lender himself. 

I'm worried now what can he do with Rs50 stamp paper and 2 cheques issued.
My first priority would be to settle the matter mutually by paying him additional 2-3L in interest...
Need your suggestions....


 2 Replies

T. Kalaiselvan, Advocate (Advocate)     31 March 2023

He may file a money reovery suit on the basis of the duly signed blank non judicial stamp papers held in his possession besides he cn fill up the duly signed blank cheque and get it dishonored, after which he can file a cheque bounce case too.

Hence better compromise or challenge his cases properly 

Dr J C Vashista (Advocate)     31 March 2023

Reconcile your account with the money lendor and repay outstanding.


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