Legal Question in Banking Law in India

in past i was working in a company. where i friend with all my colleague on day one of colleague told me that he is getting payment of 2 lakhs from a party and he does not have a bank account and asked me to give my account number so he can get money in my account so as a colleague i tried to help him out the party deposited the money in my account and i gave the money to my friend . some month later i received a call the we have deposited 2 lakh in your account and we have not recived delivery of product your colleague has fraud us of 2 lakhs now u pay us 2 lakh otherwise we will take legal action,,,help me out in this case what should i do?

Asked on 7/24/13, 12:36 pm

2 Answers from Attorneys

Fca Prashant Chavan Expert Edge LLP
0 users found helpful
0 attorneys agreed


Dear Sir / Madam,

Your friend owes a contractual performance obligation to the party who has transferred the money to your A/c. I hope you have taken a receipt from your friend for the money you have given him as proof that you have not retained or used the money yourself. Give your friend 3 days to resolve the matter with the party, failing which you should report the matter to the Police.


Read more
Answered on 7/24/13, 11:53 pm
J. Radhakrishnan independent Practice
0 users found helpful
0 attorneys agreed

I agree with the response of Sri.PRASHANT CHAVan

Read more
Answered on 7/25/13, 3:38 am

Related Questions & Answers

More Banking Law questions and answers in India

Looking for something else?

Get Free Legal Advice

88953 active attorneys ready to answer your legal questions today.

Banking Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Rahul Manchanda, Esq.Manchanda Law Office PLLCNew York, NY
Glen AshmanAshman Law OfficeAtlanta, GA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now