Person Is Not Returning Money | Vkeel - Free Legal Advice

Sumit

Chittorgarh

Money is given to person Mr. Rajkumar for property buying in partnership (along with my cousin brothers and some other partners). Money was paid to person's account in Sept-2018. It took 2 years in getting all the formalities done as property was agricultural land. In Oct-2020, Mr. Raj Kumar has offered us to pay-us out from partnership by giving us money basis valuation of property as he wanted to take all property and deal with potential buyers on his own. We agreed and has given us cheque in Oct-2020 but asking not to submit cheque as he doesn't have money. We have been following him but he is not responding. We have partnership document and stamp paper and have cheques received from him. What should we do? If we submit the cheques then what will happen.

Expert's Answers(2)

Advocate Ankur Goel
Bangalore, Karnataka

7 Client Ratings

you are still partner or dissolved it ? If dissolved then there is no option but to deposit cheque and then file cheque bounce case.

June 10, 2021
Advocate Anik
Bengaluru, Karnataka

66 Client Ratings

Hi there, You cannot deposit a cheque from an account that has insufficient funds. This can turn against you and is can be criminally charged against you. As you are in a partnership business, therefore, for the time being, all the liabilities have to be solved by other partners, however, your share will be rightfully given back to you once the bankrupt partner is solvent. Thank you.

June 9, 2021