Query sec 420 ipc ?

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PALASH (Querist)
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28 September 2017 Query Sec 420 IPC ?

One of my clients has taken a personal loan of rs 1.80 lacs from a bank on behalf of a third person ( X ) on an oral condition that after few months or years X will pay the loan amount to my client .
So naturally loan amount credited to my client's bank account , and then the amount of loan transferred from my client's bank account to X's bank account , actually INITIALLY X forced to my client to take that loan in his ( client ) own name . So naturally EMI debited from my client's bank account . But after few months X totally denies that condition and he didnot wants to pay that amount taken from my client as loan . So it's a 420 CASE .
So my question is that , whether my client will be able to collect that amount of loan from X or not through a legal case ?
Whether my client will be able to file a case sec 420 IPC against X ?
If any options , then pls clarify .

Thanks .

RAJA P M

RAJA P M (Expert)
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29 September 2017 How to give your client the amount to X....?

Amol S Joglekar

Amol S Joglekar (Expert)
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29 September 2017 do you have any documentary evidence that the amount has been transferred to the person who is the end user the amount?

PALASH

PALASH (Querist)
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29 September 2017 Through bank account ( RTGS / NEFT ) amount transferred FROM CLIENT'S BANK ACCOUNT to X 's bank account , on faith and love my client transferred the whole amount to his ( x) bank account .

PALASH

PALASH (Querist)
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29 September 2017 Yes , only evidence i have that through NEFT / RTGS amount transferred to his bank account .

Amol S Joglekar

Amol S Joglekar (Expert)
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29 September 2017 while executing transfer, have you mentioned the reason of/for transfer in the RTGS form?

PALASH

PALASH (Querist)
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30 September 2017 I don't know , reason require or not for amount transfer ?

Amol S Joglekar

Amol S Joglekar (Expert)
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30 September 2017 it is a voluntary field (Not mandatory).....that can be produced as indirect evidence....it can prove your intention to transfer the money.... Please check with bank

RAJA P M

RAJA P M (Expert)
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30 September 2017 My Dear Mr Amol S Joglekar Sir., Any other way for filing Case on Mr X... Bcoz, The payment is transferred from Bank. So, We/He deal it as based loan given from Client to Mr X....??!

Amol S Joglekar

Amol S Joglekar (Expert)
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30 September 2017 X has proved to be bold enough to decline that he wont repay.....now the fundamental question that arises is what is the purpose of transferring amount from CLIENT to X?
If it can be established beyond doubts that the amount is a back to back loan...and not charity/gift etc......then CLIENT can ask for repayment....

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