Legal Question in Real Estate Law in India

Dear Sir,

A person had given me a cheque for 20 lakhs on 30/5 which is due to expire on 30/8. In the meanwhile he deposited 10 lakhs in my account.He still has to pay me 10 lakks remaining.He is not responding to my calls or messages.Can I deposit the 20 lakhs cheque or proceed legally


Asked on 8/06/13, 10:36 pm

2 Answers from Attorneys
Rajiv Chandhok Ph: +919810050896 https://www.linkedin.com/in/rajiv-chandok-0827b733/

yes you may deposit the cheque as you have a legally recoveable debt within the meaning of chapter 17 of the Negotiable Instruments Act. To know us better, please click on the links below:

http://www.linkedin.com/pub/rajiv-chandhok/33/7b7/82

http://www.lawguru.com/answers/atty_profile/view_attorney_profile/username#more_info

JSR/7813

Read more
Answered on 8/06/13, 11:12 pm
Fca Prashant Chavan Expert Edge LLP

07.08.2013

Dear Sir / Madam,

Already answered ... repeated again for clarity purposes only.

You have two options :

a) to immediately deposit the cheque of Rs. 20 lakhs into your A/c, wait for it to realize, and then issue a cheque of Rs. 10 lakhs to the opposite party or;

b) return the cheque of Rs. 20 lakhs to the opposite party and since the opposite party has already paid you Rs. 10 lakhs, take a cheque of Rs. 10 lakhs from the opposite party and immediately deposit it into your account and close the matter.

Regards,

Read more
Answered on 8/06/13, 11:30 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in India