File FIR of 420.
How to recover money from a person who borrowed money
Hi, I gave money to a friend by taking loan from the bank and transferred to him via RTGS on Jan 2nd 2021. He promised to bear the monthly EMI and loan clearance within an year. However, most part of the EMI repayment was paid by me till date. Two months back he gave me a cheque to deposit and close the loan. When I went to deposit I realized it is invalid as the bank don't exist anymore. Andhra bank cheques are not valid as the bank has been merged to Union bank of India. I need a legally solution how to recover my money? Can I file criminal case against him for giving me the invalid cheque?
Asked 1 year ago in Criminal Law
Religion: Hindu
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8 Answers
File case of cheating against friend under section 420 of IPC
2) also file civil suit for recovery of money with interest
Dear client,
You can deposit the cheque in the bank and if the cheque is bounced due to the following reasons-
- Insufficient funds
- Irregular signature
- Post dated cheque
- Any alterations made on cheque
Then in this case you can file a suit in court under Section 138 of Negotiable Instrument Act, 1881
Hope this helps you.
You have to get the cheque bounced by bank for the reasons stated therein and issue a legal notice demanding the money, if he fails to comply or reply then you can file a cheque bounce case under section 138 NI act.
If that is not possible then you can file a money recovery suit on the basis of the RTGS transaction and his acknowledgment made vide the cheque in a civil court .
If you would like to lodge a crimninal complaint you can do so but that may not fetch you the relief of return of your money and by the time the criminal case is disposed, your demand for return of loan amount will be barred by limitation.
Better take a swift action immediately that would fetch you the desired relief.
You can send him a notice as per negotiable instruments Act afree cheque bouncing and file criminal complaint against him. You can also file civil suit
The mere fact Andhra Bank was merged with UBI shall not invalidate the cheque in any manner. If it is otherwise in order the cheque shall be hounoured by UBI.
- Since you have paid that loan amount to him through RTGS mode, it means that you having proof of payment of the amount , hence you can recover the loan amount from him legally.
- Further, as he has given you a cheque of the amount to close the bank loan , then you can deposit that cheque in UBI as well , as the said bank has merged into it
- Further , you can send a legal notice to him for the recover of the amount , and if not paid then file a complaint before the magistrate under N.I.Act , and also recovery case .
Yes, because it appears that your friend had an intention to cheat you in this transaction right from the beginning.
Approach the Police with a complaint against him
