Stop - don't loan your cash ! Think before you loan out your cash ! In a case that I am researching for regarding Post Dated Cheques and the security they offer for loans given in cash, I came across an interesting situation not many are aware of. Due changes in Negotiable Instruments Act many years ago, the normal perception is that taking a Post Dated Cheque ( PDC) against a loan advanced is a good security. So much so that even a layman 'knows' that upon a cheque bounce a supposedly faster procedure exists, which has penal provisions as…
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