Firstly, it is not understood why did you give him a cheque of Rs. 450,000/- when you say that he gave you a loan of only Rs. 150,000/-?
Secondly, if he has sent you the notice of Rs. 450,000/-, as you have mentioned, then he would have given the details of the loan given to you, i.e., in what form it was given – whether part of that was given in cash or whatever?
You have to reply on the basis of whatever the correct facts are as per your own version. If you are willing to make the payment of the loan amount, then you may negotiate with him and settle the matter.
In the absence of having seen the detailed facts, it is not possible to guide you on facts. If needed, please engage some lawyer to draft the reply on your behalf by showing him all relevant details / documents.
Dr. Ashok Dhamija is a New Delhi based Supreme Court Advocate and author of law books. Read more about him by clicking here. List of his Forum Replies. List of his other articles. List of his Quora Answers. List of his YouTube Videos.
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