Legal Question in Banking Law in India

my friend owed money from my in cash but while returning he has deposited the same into my bank account in several installments. But in future do I liable to give that money which he has deposited into my bank account & I am legally liable to pay to him. Because i am not be able prove that initially he has borrowed money from me & this is just a repayment for the same. Kindly advice


Asked on 4/22/15, 11:44 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

23.04.2015

Dear Sir / Madam,

Suspicion has no end. Money transactions are done in mutual convenience, faith and understanding between both the parties. If you have given Cash to your friend with the specific understanding that your friend has to return the money back to you in Cash only, and if despite your instructions, if your friend has deposited the same into your Bank, you will need to tell your friend to give you Cash in lieu of a cheque to be issued by you to your friend to square off the deposits into your Bank.

Regards,

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Answered on 4/23/15, 2:40 am


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