Cheque bounce as a guarantor
Sir my name is ramachandra, I given a blank ch as 2nd guarantee for my frnd in one of chit fund company in 2012. My frnd taken a chit amount of R's 2lkh( he paid rs 62500 for this chit) and in d same time only he puts another 3 chit of R's 5 lak in same company but he given a 3 name of their sister and his frnd and himself , rs 25000 ×3=75000 amountt he only paid for 1 month, thn he didn't continued tht chit and for rs 2lak chit also he didn't payed their balance.nw chit is cleared abt 2 yrs back. But nw my frnd is upstanding we don't knw whr is he, Now chit company is asking a money frm me otherwise they will take action in legally through my cheque. And they written a 173526 amount and presented to bank twice it's bounce due to insufficient fund, I went and met tht chit company and they told u came here pls pay any amount we can stop forwarding this case to next to level and I payed rs 10000 but nw they sent a notice to me on sterday pls pay full amount within 15 days otherwise we file compliant against u.
My question is hw can I solve this problem and there is any options to pay my part of amount ( we hav 3 member in this problem, they said tht my frnd has to pay rs 75000, in this amount my part of it rs 25000) if I paid this amount they will return my cheque and which I signed for document.
Pls give me a suggestion sir,
Asked 8 years ago in Criminal Law
Religion: Hindu