Legal Question in Credit and Debt Law in India

I had given 5,00,000 rs. to my neighbor (4,00,000 rs. cash and 1,00,000 rs. by cheque), and he given me 2 cheques of same ammount. after that when i go to withdraw i came to know that his bank balance is insufficient, and he is run away some where and closed his shop. now what i have to do for getting my money back? he is rajasthan's citizen and this offence done in gujarat, surat.


Asked on 7/16/13, 1:38 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

16.07.2013

Dear Sir / Madam,

You have to deposit these cheques into your A/c and ensure that your neighbour's bank returns the cheques with the instructions "Insufficient funds; refer to drawer". You should then lodge a case of "cheque bouncing" under Section 138 of the Negotiable Instruments Act against the neighbour, and an FIR in the local Police Station giving all the details.

Regards,

Read more
Answered on 7/16/13, 10:41 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in India