Legal Question in Banking Law in India

Cheque boncing

My friend is an army officer presently posted in J&K.He had lent some money to a person dealing with share trading with an assurance of good returns abt a year back.He paid abt 2.5 lacs of his hard earned money to this person.

As a proof of his commitment this trader issued cheques to my friend which have bounced.Now tht his wife is alone and feeling helpless as whenever she approaches them personally he keeps lieing and makes a new promise everyday.

Kindly advice how she should go abt fixing this rogue and getting their money back from him.


Asked on 3/17/09, 1:27 pm

4 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Cheque boncing

You may pursue two remedies simultaneously :

(a) you may consider initiating proceedings u/s 138 N.I.Act.

(b) may also file a civil suit for recovery.

It may be advisable to engage a local lawyer for pursuing both the remedies.

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Answered on 3/17/09, 11:42 pm
J. Radhakrishnan independent Practice

Re: Cheque boncing

for cheque bouncing your friend or his wife whoever the payee can proceed under Sec.138 of N.I.Act. However it is advisable that your friend and or his family take the assistance of local lawyer after showing him all documents with them.

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Answered on 3/18/09, 1:04 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Cheque boncing

if limitation is not lapsed file case u/s 138 NI act otherwise u/s 420 ipc with civil suit for recovery.

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Answered on 3/20/09, 10:06 am
Pranav Desai PD Legal & Associates

Re: Cheque boncing

File a complaint under section 138 of the NI Act

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Answered on 3/26/09, 12:36 pm


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