I am looking for your guidance for below query.
I paid an amount of Rs.275000 /- towards cheque No.xxxxx to one of my friend, also we had an agreement heading mentioned as " ON DEMAND PRONOTE" on Electronic stamp paper, this was purchased by me (Lender),
The agreement summary is as below
I Lakshmi W/o. Pradip living in Mangalore, has recived loan of Rs. 275000/- towards Cheque No. XXXXX from Santhosh living in Bangalore. We agreed to repay the loan with Interest of 12% Per annum whenever they (lender) asked to repay the loan amount.
Signed by Pradip and Mahalakshmi but not signed by me as a Lender in "On Demand Pronote"
Now the problem is is, Pratap given 2 Cheques for Rs 275000 without date from his Account..., but later Pratap sent us a Loan agreement by speed post stating that these 2 Cheques were given to lender (Santhosh) for security purpose only for receiving Rs. 275000 /- as a Loan BUT IT was only signed by Borrower (Pratap), I DINT PUT ANY SIGNATURE ON THIS "LOAN AGREEMENT"
Points to Notice:
1.We paid loan amount to Pratap's Wife - Lakshmi towards Cheque (We have account statement in our Pass Book), but we got loan settlement cheque from Pratap 2. We got 2 cheques from Pradip Singh from 2 different accounts, He also mentioned in Loan Agreement" that these 2 cheques were issued for security Purpose only - THIS LOAN AGREEMENT NOT SIGNED BY ME AS A LENDER, BUT IT HAS ONLY BORROWER Pratap SIGNATURE,
3.He dont have any balance in both these accounts, if we deposit these 2 cheques they will bounce.
4.Now we decided to put Cheque bounce case under " Sec 138 NI" on him providing "On Demand Pronote" + 2 Bounced cheques + Account statement (which has the proof of providing loan to Mahalakshmi"
Can we get judgement for our side ? Do we have any technical or legal difficulties / mistakes from our end ?
If he found as guilty and he dont have money to pay us, what court will judgement ?