Legal Question in Banking Law in India

One person is into real estate, we had given amount of 220000 in instalment under an agreement for the site. later on after 1 year we came to know that its already registered to some other person. He gave cheque of 220000 which is bounced in month of sept 2010, how can i get the money back which is due from 6 months, please advise, how long will it take if i claim legally,


Asked on 3/27/10, 9:15 am

1 Answer from Attorneys
Ramachandran Iyer Geetha & Rams

Once the cheque got bounced, you could have initiated action under NI Act. The duration to get back the money depends on how strong the real estate fellow is. It is hard to get the money back from any person nowadays. Better try to get some other land which the agent deals with and get it registered. Better luck this time.

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Answered on 3/27/10, 9:00 pm


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