Legal Question in Banking Law in India

I had give a loan of Rs. 1,500,000/ (Rs. Fifteen Lakhs) to a friend in December 2009. After repeated follow up and pleading with around numerous sms messages, this person finally released two cheques in the second week of September 2010 i.e.(a) cheque of Rs. 50,000/- as nominal interest dated 15/09/10 and a cheque of same amt dated 20/10/10.

However, on presentation of the first crossed cheque for Rs.50,000/ on 15/09/10 (within 6 month validity) it was returned by the bank due to signature differ. The intentions of this friend are malafide as repeatedly he has avoided payment since February 2010 .I am not very sure he will stand by the cheque he has given for the loan amount which is due on 20/10/10

Plz tell me legal status of this intentional signature differ and why the bank has not stated both the reasons ie insufficient fund and signature difference in its cheque returning statement. Can I ask the bank to verify fund status also and mention its status on their note.

What should I do now?


Asked on 9/29/10, 11:22 pm

2 Answers from Attorneys
J. Radhakrishnan independent Practice

Better file a cheating complaint stating that he intentionally issued the cheque and got the same bounced. Consult local lawyer with all details. Only on filing complaint to court you can summon the Bank to produce the account details.

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Answered on 10/01/10, 7:19 pm
Vishwa Arya Arya & Co.

you may file a police complaint for cheating.

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Answered on 10/02/10, 10:10 am


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