Hyderabad | 21 Mar, 2021 (7 months, 1 week ago)

General Advice

Issue in receiving invested Amount

Hi , I have given 3 lakh rupees to invest in a restaurant leased owner. I know his as he handles the cafeteria where I worked.. Due to pandemic our offices are closed and he has requested me to invest in his restaurant where he has taken on lease. He promised to pay me an monthly amount of 30k irrespective of bust loss or gain. It has been 6 months now..he paid me 14k in 1st month and haven't gave me a single rupee after. I have an agreement and a cheque of him. Cheque is valid only end of this month. Need an advise how to take action against him and get my money back . Can I submit the cheque to the bank next week and once it got bounced .can I send him a legal notice. Pls advise how to proceed on this issue.
Answers
22 Mar, 2021 | 08:37

It is your right to deposit the cheque and if it gets bounced you can file a case u/s 138 NI Act. However, along with this, you will also have to file civil proceedings depending on your agreement for the recovery of money.


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