• Cheating - Personal Loan

Hello there,
I had lend some money to one of my neighbours in good faith as he was in desperate need. He was also a good friend of mine. He promised to return it within 6 months. It was all paid via cheque. Its been over 2 yrs now and he has not paid me back. He would give me a cheque everytime and ask me to hold on. The cheque would expire after three months and he would then give me another cheque. This went on for a year, and he is now just giving me excuses. I don't have anything in writing from him but I do have all his cheques he has given me so far. He appears to be running some kind of investment business and has suffered massive loss with the recent demonetisation move.

What kind of legal action can I initiate against him? He has cheated me taking advantage of my trust. Please advise.
Asked 7 years ago in Criminal Law
Religion: Hindu

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6 Answers

1) issue legal notice to friend to repay your Rs outstanding loan

2) if he fails to pay file summary suit under order xxxvii of CPC to recover your money

3) you can also deposit cheque and in case of dishonor file case under section 138 NI

Ajay Sethi
Advocate, Mumbai
95168 Answers
7604 Consultations

5.0 on 5.0

1) you cannot file cheque bouncing case now

2) better file summary suit to recover your s 3.25 lakhs with interest

3) you have good case on merits

4) if your friend does not contest suit you would get decree in one year

5) if he contests interim orders for deposit of money would be passed in 6 months time or so if his defenses are moonshine or bogus

Ajay Sethi
Advocate, Mumbai
95168 Answers
7604 Consultations

5.0 on 5.0

Immediately issue a legal notice to him and demand your money back, if he is not ready to pay then file a civil suit for recovery against him before civil court.

Its take more then years.

Feel free to call

Nadeem Qureshi
Advocate, New Delhi
6307 Answers
302 Consultations

4.9 on 5.0

Hello,

1) If you are not able to get new cheques from him, you are at a disadvantage in as far as filing a cheque return case, however you can file a recovery suit against the person.

2) You must go ahead and file a suit for recovery of the money without sending him a legal notice. He will either pay up or come for a settlement. The case can take two to three years as he will try to by as much time as he can.

S J Mathew
Advocate, Mumbai
3561 Answers
175 Consultations

5.0 on 5.0

You may ask him to issue another cheque and this time despite his request borrowing time for depositing cheque, you may present the same before bank, bounce it, issue a legal notice to him demanding the amount due to you, if he is not complying with the demand mae, you may proceed with cheque bounce criminal complaint before a court competent

T Kalaiselvan
Advocate, Vellore
85369 Answers
2231 Consultations

5.0 on 5.0

Unfortunately the last cheque that he gave me has already expired and he is no longer ready to issue a cheque now, because I once threatened him to bounce his cheque. The amount in question is Rs. 3.25 laks so I would like to know what are the chances of recovering this and for how long should I be prepared to fight a legal battle? Thanks and much appreciate your response.

If he is not willing to give another cheque and also reluctant to pay the amount, you may issue a legal demand notice for the repayment of loan amount and you can mention about his stale cheque held in your possession in the same otie and reasons for it becoming stale.

After that you may file a money recovery suit against him.

T Kalaiselvan
Advocate, Vellore
85369 Answers
2231 Consultations

5.0 on 5.0

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