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Author Topic: Took Rs350000/- from a person pledging him to pay within 1year  (Read 662 times)

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Offline ripu14

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I took Rs350000/- form a person last month pledging him to pay Rs50000/- each month for 8months..I did a notary agreement where it is mentioned that I will pay him the amount within 1year of time.and gave him a cheque with no date mention.I paid the sincerely Rs50000/- of last month but suddenly he is telling me to refund all amounts or else he will bounce the cheque. what to do now.plz help me somebody

Offline advpriyaanand

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Re: Took Rs350000/- from a person pledging him to pay within 1year
« Reply #1 on: March 12, 2016, 06:09:19 AM »
how will he bounce the cheque given by you.

you tell the bank to honour it thats your job
Advocate Priya Anand,
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Madras High Court

Offline rajgopal sripathi

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Re: Took Rs350000/- from a person pledging him to pay within 1year
« Reply #2 on: March 15, 2016, 11:50:29 PM »
Hi
You dont need to worry at all.
Hope you have the loan agreement with you.
As per loan agreement you are to pay Rs50000-/- every month and you have paid the first month instalment of Rs50000-/-
even if the other side presents the full cheque, it will not be treated as cheque bounce because as per agreement you are required to pay the amount in 8 instalments.
keep the agreement safe and do not worry about the threats of the financier. if you want you can issue caveat notice to financier.
Also keep depositing the Rs50000 on time every month with out any delay
« Last Edit: March 15, 2016, 11:52:11 PM by rajgopals »
Rajgopal Sripathi
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email:rajgopal@legalwin.in

 

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