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My company had paid Rs 10 lacs by cheque to a company for procurement of a machine ( In fact this payment was made to their cooperative bank to clear the loan taken by them ). The bank is now closed .The company has not supplied us the machine . Now it is not willing to return the advance even . What can be done in such a case . Can we go to the court ? Is our case strong enough ?
Replies (1)
Dear SSJ,
U can definately file a suit..
As far as position of ur case is concerned, it will depend upon the evidence which u can provide-
Possible Evidence-
1) Agreement/Momorandum of Understanding with Supplier
2) Agreement/Momorandum of Understanding with Bank
3) Communications with Supplier/Bank (like emails, letters,etc)
4) Photocopy of cheque/DD with which payment was made
5) Copies of Bank Statement of ur account as well as loan account of supplier
6) Board's resolution, Minutes of the meeting.
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