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I sent around 15 lakhs to my friend's business account for business purposes by taking a loan in my name. He paid the EMI for a year. After my marriage, he started covering some expenses and I gave him money for the wedding. Later, he stopped paying the EMI and claimed he spent the 15 lakhs on my wedding. He stopped responding and may have tried to cheat me. I filed a police complaint, and he gave me two cheques for 5 lakhs each. Both cheques bounced, and now he has complained to the SP about being threatened by the police.
If your friend has stopped paying the EMI and the cheques bounced, you can file a legal complaint for cheque bounce under Section 138 of the Negotiable Instruments Act. Additionally, you can file a civil suit to recover the 15 lakh. The police complaint can help support your case in court. For further legal assistance contact us on our helpline number.