Legal Question in Banking Law in India

I have given hand lone to my friend nearly 50000, without any saporting dacuments just he is given check of 50000.now check is bouns what to do.some body told me that, without pramisary note we cant win in court.kindly explain.


Asked on 11/03/10, 8:03 pm

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

Promissory Note is not required. You may follow the procedure prescribed in Section 138 of Negotiable Instruments Act and take appropriate action.

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Answered on 11/03/10, 9:04 pm
Vishwa Arya Arya & Co.

if one files a complaint under section 138 Neg Inst Act then there is a presumption of liability, so you do not need a promisory note. so if the cheque has dishonoured take the action by issuing a notice within 30 days. then if the money still does not come, file the complaint within 45 days from the date of issuance of notice.

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Answered on 11/03/10, 9:44 pm


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