Legal Question in Banking Law in India

Cheque bounce case - NI Act 138

I gave an amount of Rs. 1,00,000 to my friend as my share for a land deal. He promised me profit and the principal amount to be released within 1 month as he expected to sell it as soon as possible. He also gave me a PDC for the said amount. Now even after 2 months he is not ready to pay the amount and his cheque bounced. Later i found that he did not buy any land as promised and his intention is to cheat me. What is my chance of getting my money back if i file a court case.


Asked on 6/13/10, 11:50 pm

3 Answers from Attorneys
VELAYUTHAM RAJKUMAR

When cheque is bounced and you want to file complaint under section 138, you need to send him legal notice within 30 days of bouncing informing dishonor of cheque and requesting to pay within 15 days of receipt of notice. If within 15 days of notice party fails to give you the cheque amount, you may file complaint with MM within 15 days..

more details:www.wisdomlawfirm.com

Read more
Answered on 6/14/10, 12:20 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

you can deposit the chq and if chq bounches file cases u/s 420 ipc and s138 n.i. act

Read more
Answered on 6/14/10, 9:26 pm
ANURAG TIWARI

I think your question is now answered. Apart from that you can file a civil suit u/o 37 CPC for recovery of the said money from your friend on the basis of the bounced cheque.

Anurag-9891406115

Read more
Answered on 6/15/10, 1:07 am


Related Questions & Answers

More Banking Law questions and answers in India