My friend borrowed Rs. 4 Lakhs from me, transferred in six online payments, with a signed loan agreement. He gave me a cheque for the full amount, but it bounced. He’s now delaying repayment. If I file a case under Section 138 of the Negotiable Instruments Act, will I get my money back? Can I get compensation from the bail bond he provides in court, and how much would that be?

Apni Law
Apni Law
Law Forum › Category: Cheque Bounce › My friend borrowed Rs. 4 Lakhs from me, transferred in six online payments, with a signed loan agreement. He gave me a cheque for the full amount, but it bounced. He’s now delaying repayment. If I file a case under Section 138 of the Negotiable Instruments Act, will I get my money back? Can I get compensation from the bail bond he provides in court, and how much would that be?
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Apni Law Staff asked 8 months ago

My friend borrowed Rs. 4 Lakhs from me, transferred in six online payments, with a signed loan agreement. He gave me a cheque for the full amount, but it bounced. He’s now delaying repayment. If I file a case under Section 138 of the Negotiable Instruments Act, will I get my money back? Can I get compensation from the bail bond he provides in court, and how much would that be?

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Best Answer

Apni Law Staff answered 8 months ago

Under Section 138 of the Negotiable Instruments Act, you can file a case against your friend for dishonoring the cheque. If found guilty, the court can order him to pay the loan amount with compensation and costs. However, the bail bond doesn’t guarantee repayment and the compensation amount is decided by the court based on the specific circumstances of the case.

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