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How to retrieve the principal amount I gave to a company that gives interest on the amount?

There is a company in UAE dealing in assured monthly returns, and fixed interest. They format a proper contract and give security cheques for principal and interest amounts.

My contract is finished and I am asking for the principal maturity amount. The company is giving new dates every time and not releasing the maturity amount.

Should I deposit the security cheque?

What will happen if the security cheque bounces?

How to legally deal in such a scenario.

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Amiri Advocates & Legal Consultants
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25 Jan 2024, 17:46

If the check is returned, then, of course, there is a reason.

If the reason is that the account is closed, then you have the right to file a criminal complaint at the police station.

If the reason is that the balance is not enough, then it cannot be reported to the police, and only a civil case can be filed in court.

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Nasser Yousuf AlKhamis Advocates & Legal Consultants
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25 Jan 2024, 20:20

Dear Questioner,

We can file a case against the company for recovery of outstanding dues. Please contact us on 0547928722 for detailed discussion and assistance.

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KHE Legal Consultancy
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26 Jan 2024, 04:41

Dear Questioner

We can initiate the legal proceedings with the security cheque and the contract if you think you will not recover the amount from the company.

26 Jan 2024, 04:41

If you need our assistance in your matter, please share your whatsapp number.

Skills Legal Consultants
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26 Jan 2024, 06:08

If the cheque was bounced due to any reason, we can open cheque execution.

We can help you to recover this amount, please contact us by phone.

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Dar Al Haqooq Legal Consultancy
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26 Jan 2024, 06:18

Dear Client,

Thanks for your question, I hope you are doing well. I will definitely assist you in this matter.

If a UAE company is not releasing your principal maturity amount as per the contract, consult with us.

Review your contract's terms and attempt an amicable resolution through communication. Before depositing the security cheque, consult with us, as bouncing a cheque can have legal consequences in the UAE.

If the company continues to delay payment, consider legal action through the UAE court, with our guidance, to recover the owed amount.

For any further legal assistance, you can WhatsApp us. We have an extensive team of knowledgeable and experienced lawyers to provide the legal assistance you need.

We will definitely be happy to help you.

Thanks & Regards

ABDUL WAHIED

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Abdelaziz Al Zaabi Advocates & Legal Consultants
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26 Jan 2024, 06:45

First, you have to deposit the cheque. If it gets bounced, you have to contact us to file a case to retrieve the amount.

For further information, contact us by call/WhatsApp or email.

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Alawi Aljaberi Advocates & Legal Consultants
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26 Jan 2024, 10:01

The bounced cheque leads to a civil case against the company and we will assist you in this matter.

For more details, please contact our office by phone.

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