Legal Question in Banking Law in India

sir my self parikshit frm kanpur u.p i have sold my house in june 2012 with an amt of ten lakhs rupees.buyer gave me seven lakhs rupees in advance and made a promise of three lakhs rupees he will pay later when he will made a deed. on the 4th of july he has given me a cheque of three lakhs rupees and the next day he reached to the bank and dishonoured the cheque by pretending that the cheque has been lost which he gave me. now five month have gone and he is making excuses and everthing thing related to the house and other dues i have paid but he is making lame excuses like siver pipe line is broken and other things. can i lodge a complaint against him to a police station and prove the cheque of dishonour. actually i do'nt want to file a case in the court coz the mony is very important for me plzz hlp me


Asked on 11/30/12, 6:37 am

2 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

02.12.2012

Dear Parikshit,

As per the Indian Contract Act, 1862 - "A Sale is complete only when the full consideration has been settled." Applying this Section to your case, you are still to receive Rs. 3.00 lakhs from the buyer. You should issue a written letter to the buyer that if he fails to pay you the balance Rs. 3.00 lakhs within 15 days, you will be forced to cancel the Agreement for Sale of the premises making it null and void in law. As pointed out by my colleague Rajiv Gupta, you can also file a case u/s 138 for dishonour of the cheque should the buyer fail to settle your dues.

Regards,

FCA Prashant Chavan

Mumbai

(You can also mail me for any further on-line advice at [email protected])

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Answered on 12/02/12, 6:16 am


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