Legal Question in Business Law in India
Negotiable instrument act
My question is , I have given a loan of Rs 92000 to one my relatives all belong to one family.Actual loan taken by one person which they have distributed among them they are 3 peoples.I took a written note from one person on 1 Re revenue stamp stating that they have taken money for personel expenses.The person who took the loan have issued a posted chq of RS92000.00.When i presented on the date the shq bounced due to insufficient funds.And now they are deining to make any payment .What legal action i can take on them.
Asked on 11/12/06, 2:54 am
1 Answer from Attorneys
sheena VC
legalalia
Re: Negotiable instrument act
You send them a legal notice within 15 days from the date of bouncing of the cheque .Sheena.
Answered on 11/12/06, 7:52 pm
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