Legal Question in Business Law in India
i gave rs 750000 friendly loan to afriend and he issued me a cheque in my name.now he is not repaying the amount .his cheque got bounced .i sent him a notice but no reply has come from his side.The money which i gave ,is it in cash .will i be able to recover my money
Asked on 2/02/11, 6:19 am
2 Answers from Attorneys
Vishwa Arya
Arya & Co.
yes sir, you have two fold remedy. first, since you have already issued notice, you may file a criminal complaint u/s 138 NI Act. Secondly, you may a civil summary suit under Order 37 CPC for recovery along with interest.
Answered on 2/02/11, 6:21 am
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
how was the money paid? by cheque or cash. in case the money is paid by cash, it will be difficult for you to prove that you gave the loan as you need to prove the source. however, if the loan documents are fine, you may do advised above.
Answered on 2/02/11, 10:00 pm
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