Legal Question in Banking Law in India

One of my old friends, was in need of money, I helped him ( 70K + 1 lakh) using credit card as he has a swipe machine and he promised to pay the credit card bill on time.

He didn't pay the credit card bill and I arranged the money from friends to pay the bill and took loan to pay to my firends. After running behind him for 4-5 months I got some signed blank cheques.

and after getting confirmation for just six thousand reupees, I dropped one cheque for 6K. The cheque got bounced due to insufficient funds. I called him up and asked, he replied the bank was closed so he could not deposit the amount.

I have blank cheques with me. Credit card transaction details of swiping my card from his swipe machine. How can I get the money back?


Asked on 10/20/09, 6:04 am

3 Answers from Attorneys
Seshadri Srinivasan www.lawconcern.com

You have done an unlawful transaction. So legal step to recover can be only for the principal amount.

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Answered on 10/20/09, 6:42 am
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

you may send a legal notice for the bounced cheque and get the cheques bounced for the amount due. you may state the reason for his tendering you the cheques and thereafter file a complaint u/s 138 of negotiable instruments act.

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Answered on 10/20/09, 12:49 pm
J. Radhakrishnan independent Practice

Fill up the blank cheque for the total amount legally due to you. Present it for payment. If it gets bounced, follow the proceedings under Sec.138 of the Negotiable Instruments Act, with the assistance of a local lawyer.

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Answered on 10/21/09, 11:03 pm


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