Legal Question in Criminal Law in India
i took a loan of 150000 from my friend relative in 1999 on interest 18%pa through cheque in my company name. he gave the cheque from his firm account. . upto 2009 my buisness was fine & i kept on paying inerest after deducting tds. in 2009 my buisness suffered losses. and lost every asset i was having other than machinery. in addition i was availing personal loans from different banks. i kept on doing buisness in rented place & in between settled personal loans one by one. i also asked my friends relative that my position is not good but i will surely pay you capital amount in installments.he approached my elder brother & my brother told him that pls donot disturb him & he gave him rs 50000. and gave him assurance that i will pay you the amount which is around 60000 in april 2011 end. and rest 35000 in installment of 5000 for seven months. he took the money & with the help of my friend manged blank cheque only signed by me from my unit.he filled the amount with interest & presented the cheque but i had already stopped the payment.he filled case on me under section 138 & 420 .now the matter is in court.on first date his lawyer asked the judge to deposit my passport in court. i am really in trouble. i was told by my another friend that he cannot file case as he is not having licence to lend the money on interest under punjab money laundering act. moreover passport can only be deposited in case of i being declared PO. so pls guide me what i should do because he has filed case of 203000 whereas actual he has taken 50000 but i have no receipt but i have voice recrding of his admitting of taken 50000 . moreover i never issued the cheque nor i put date on it nor i filled it & it was stopped around 90 days before presentation. so pls guide . i am not denying the fact that i didnot took money & i am ready to pay.but in installment.but he is adament on full payment along with interest.
1 Answer from Attorneys
If negotiation failed, contest the case, try to defeat his claim under technical grounds
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