Legal Question in Banking Law in India

I given cash 400000 to one person .she given cheque and Rs.100/- boad paper signed and given. paper we are not written anything.past 4 years she is not given i am middle class i am paying high rate of intrest .how to collect my cash as legal.ple help me.


Asked on 1/22/15, 2:54 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

22.01.2015

Dear Sir / Madam,

You should first deposit and encash the cheque given to you by the borrower. If the cheque amount is realized, it is fine. If the cheque is dishonoured, you should file a recovery case against the borrower under Section 138 of the Negotiable Instruments Act, 1938 within one month from the date of intimation of cheque dishonour by the Bank to you. Lodging a Police complaint against the borrower is also advisable and recommended.

Regards,

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Answered on 1/22/15, 3:54 am


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