Legal Question in Banking Law in India

further to my earlier question(what is the validity of stamp paper which was given to a person for borrowing the money from him), I forgot to mentione you all that it was blank stamp paper which was purchased in the year 2007,will this stamp paper valid for this current year and the person is harassing me saying he has stamp paper signed me me but the fact is I had returned his amount 5 lakhs rupies which I dont have any written proof of this amount returned to him and now he had presented a cheque which was blank and issued in the same year and now he has presented in the bank which in turn got bounced. So, can he take any legal action against me? Preior to this he had presented other two cheques last year whic is also got bounced but I have taken back those bounced cheque from, can I produce these cheques in the court as a proof of money returned to him because he had returnd these cheques hence he had returned those cheques to me?


Asked on 11/18/09, 8:35 am

2 Answers from Attorneys
J. Radhakrishnan independent Practice

The person who got your signature on stamp paper purchased in 2007 can have it filled up with a date falling within six months from the date it bears as having been purchased. Even otherwise he could fabricate a loan document on that and put you to trouble. The bounced cheques which he has returned to you may be treated as having been returned to you after receipt of payment of those cheques which he may say are for instalments and sue you for the balance of the loan amount with interest for which he has filled up the blank signed stamped document. You have courted trouble by your own foolishness. Better reason out with him with some mediators and get the stamp paper signed back.

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Answered on 11/18/09, 9:04 am
Seshadri Srinivasan www.lawconcern.com

You have to file a police complaint detailing the transactional fraud played upon you.

Simultaneously issue a detailed lawyer notice demanding return of the documents. You have not mentioned the loan amount you availed of.

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Answered on 11/18/09, 7:19 pm


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