Legal Question in Banking Law in India

Hi, i gave a check to my business partner for 50000 and have given 30000 in cash and bank transfer. he is asking interest amount 15000 and threatening me to submit check for 50000. Please help me and suggest the way

1:- Can i stop the check payment from bank?

2:- Can i inform police in this case?


Asked on 6/02/16, 12:39 pm

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

03.06.2016

Dear Sir / Madam,

You should mutually discuss, resolve and settle all financial matters relating to business with your partner. If need be, you both should engage a local Chartered Accountant to intervene and put matters in the right perspective so as to clear any doubts or misconceptions in either partner's mind. Informing the Police and seeking their intervention remains the last resort, if still unresolved.

Regards,

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Answered on 6/02/16, 6:36 pm

1) No

2) Not advisable

3) Discuss and settle in the presence of elders in the same business community

through ur auditor CA/CS and resolve the issue.

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Answered on 6/03/16, 12:44 am


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