Legal Question in Banking Law in India
v r in the business of conducting events in india and abroad. one of my friend who is running a real estate business requested to launch his brand name in abroad and accepted to sponsor. after the show he wants his money back.he used our blank cheques given to them as security.please explain
2 Answers from Attorneys
if u have given to the real estate businessman blank signed cheques, you have only to blame yourself. If he presents the cheques after filling up the same and they bounce, you will be prosecuted under Sec.138 N.I.Act. Better consult local lawyer and issue him the legal notice asking him to return the blank cheques given to the real estate man. Litigation cannot be avoided . It is your own making. No solution possible from this forum.
is there any agreement between you and your friend ? please clarify.
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