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Q. Regarding check

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Anonymous

posted 1 year ago

Q.Regarding check
Sir, I am aaryan.. Some one owes me 10 lks money and he gave me a blank cheque.. But he is now saying that he doesn't have money he needs 6 months time atleast(already gave him 2yrs time).. So what some one suggested me regarding this is to ask for some property which is in his or his wife's name and make it as an agreement stating that this property will be registered to me if the guy doesn't pay me the whole amount within 4 months.. is it possible to put the same in agreement? Is it valid? Will the property can be easily registered from the guys or from his wife's name to mine? Will there be any problems? Also if it can't be done whats the other remedy (regarding presenting the cheque)??.. Pls help

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Munish Kumar Goyal

Experience: 7 Year(s)

Responded 1 year ago

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A. ) Dear Sir,
You can live in your own way as per the recent Supreme Court verdicts.

Thanks

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Munish Kumar Goyal

Experience: 7 Year(s)

Responded 1 year ago

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A. ) get the cheque bounced and in short period after filing of complaint, he needs to return your money either he eeds to go to jail also.. along with returning your money with interest.

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Kishan Dutt Kalaskar Retired Judge

Experience: 34 Year(s)

Responded 1 year ago

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A. ) Dear Sir,
If it is undated then put the recent date and get it bounced and file a case on him. To get property through agreement etc is very difficult.

Thanks.

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Anonymous

Replied 1 year ago

Sir, why did u say that property through agreement is difficult??

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Shreyash Mohta

Experience: 2 Year(s)

Responded 1 year ago

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A. ) Sir the advice given is correct. You can execute a security agreement and do likewise.
You need to mention everything in that agreement.
Also, as you have a blank cheque, you can at any point of time present the cheque, which will dishonor if he does not have money and on the basis of which you can initiate a case u/s 138 of the NI Act.
Alternatively, you can execute a promissory note
having a repayment date of 4 months and thereafter on the basis of such promissory note institute a civil suit as well.
Thanks

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Anonymous

Replied 1 year ago

Sir u mentioned that it is ok to execute a security agreement of the property.. Will it be valid under law to change the ownership if the person doesn't give cash under the 4 months time? Can the owner of the property can go to court against this? Pls reply

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Shreyash Mohta

Experience: 2 Year(s)

Replied 1 year ago

Yes if the security agreement is breached then, you can approach the court for specific performance. Or else you also have other options as I have mentioned.
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