False cheque bounce legal notice
Dear Sir/Madam
Good day to you.
My father took rs 25,75,000/- loan @72% interest per annum from a money lendor in 2012 against pro notes and property document of our maternal uncle who is also an advocate, blank cheques of my father, my brother and myself . since then we are paying him the monthly interest of rs 1,54,500/-without fail till 2013.
Due to heavy financial loses incurred, my father couldnt repay him any interest till aug 2014. my father and the money lendor and advocate uncle sat for settlement and the money lendor asked us to repay him 21,00,000/- as full and final payment towards the loan. we agreed. we kept our property for sale. and we were all set to repay his money and clear the loan.
This entire loan settlement process is being overseen in the office of our maternal uncle who is also an advocate.
when we were above to handover the 21 lacs cheque to the money lendor in aug 2014. my advocate uncle requested the money lendor to transfer my fathers loan on his name unofficially. i.e; out of 21 lacs amount, 10 lacs will be paid to the money lendor and 11lacs this advocate will take and he will repay to the money lendor. (because he needs money urgently and his property document is anyway with the money lendor as a surety PLUS he also gave his cheque for 11 lacs as a surety)
money lendor agreed for this terms and he returned all our pro notes, blank cheques but he retained the property document and took blank cheque for 11 lacs from my advocate uncle.
we werent comfortable with this adjustment, so we repeatedly told the money lendor that from today we are noway concerned with this loan as we are paying total 21 lacs. and its a adjustment between our advocate uncle and money lendor. for which the money lendor and our uncle reassured us that our loan is completely cleared and now its in between them.
now problem is,
the advocate uncle is not repaying the money to the money lendor, he is not responding to us.
this money lendor calling us repeatedly and harassed us over the phone and today he sent cheque bounce legal notices to
1) my father for 11 lacs and to
2) my brother and myself for 6 lacs and asked us to repay within 15 days or will file criminal case under NI act.
the money lendor earlier told us that the loan is in between him and our uncle only. he also said he returned all our cheques and pro notes. (today we came to know he retained some cheques and pro notes with him)
so we were cheated by our uncle as well as the money lendor.
what should we do.
we lost hope. we are broke. we have now, neither money or property to repay.
kindly advise us. Thank you.