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


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.


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Answered on 7/24/13, 11:53 pm

J. Radhakrishnan independent Practice

I agree with the response of Sri.PRASHANT CHAVan

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

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