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How to extend time for repaying debt
16-Jun-2023 (In Property Law)
I borrowed 2 lakh 50 thousand from a man in 10 per cent intrest i repayed 2 lakhs and 50 thousand still remaining now the person is still charging me intresr for 2. 5 lakhs and as i am not able to repay m just paying intrest n now the amount is almost 4 lakhs. I am drowing day by day in the mess and person is threatening me and my family for the same for years nad presurrizing to give our family plot and bike as a mordgaze untill we pay him back. What should i do i cannot afford to pay him that huge amount..
Hi,
This lender of money is falsely pressurizing and threatening you and what he is doing amounts to committing of fraud. You can take legal action against him by filing a complaint against him for fraud and also for criminal Intimidation.
Section 503 of Indian Penal code 1860 reads, Criminal intimidation Whoever threatens another with any injury to his person, reputation or property, or to the person or reputation of any one in whom that person is interested, with intent to cause alarm to that person, or to cause that person to do any act which he is not legally bound to do, or to omit to do any act which that person is legally entitled to do, as the means of avoiding the execution of such threat, commits criminal intimidation.
Explanation-A threat to inure the reputation of any deceased person in whom the person threatened is interested, is within this section.
Police can register a NCR (Non cognizable report). After recevieng the copy of this NCR you can pray to court under Sec 155(2) of code of criminal procedure, to order to police to investigate the matter, then police will investigate. Another remedy is you can file private complaint in the court.
This lender of money is falsely pressurizing and threatening you and what he is doing amounts to committing of fraud. You can take legal action against him by filing a complaint against him for fraud and also for criminal Intimidation.
Section 503 of Indian Penal code 1860 reads, Criminal intimidation Whoever threatens another with any injury to his person, reputation or property, or to the person or reputation of any one in whom that person is interested, with intent to cause alarm to that person, or to cause that person to do any act which he is not legally bound to do, or to omit to do any act which that person is legally entitled to do, as the means of avoiding the execution of such threat, commits criminal intimidation.
Explanation-A threat to inure the reputation of any deceased person in whom the person threatened is interested, is within this section.
Police can register a NCR (Non cognizable report). After recevieng the copy of this NCR you can pray to court under Sec 155(2) of code of criminal procedure, to order to police to investigate the matter, then police will investigate. Another remedy is you can file private complaint in the court.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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