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Friend took money for business not repaying since a year


10-Feb-2023 (In Recovery Law)

Hello Lawyer Sir, Last year I helped a friend with securing loan through me for one event contract of govt. This loan was at very higher rate of interest through local people. THe govt dealyed in payments due to which I have to pay interest for almost 12 months. which amounted to 1.8 lacs more on the loan of 5 lacs. During whole of this i was only returned 2.5 lac once. This guy is not responding to me anymore and we do not have talking tersm due to this. how can i recover my money from him for which there is no legal proofs. all tansactions was done through hand.

Answers (2)

Answer #1
784 votes
first of all served him through the legal notice and after 15 days from the date of service of the legal notice, you can file recovery suit against him under the provision of C.P.C. and if you havnt any proof of it you then try to get the confirmation about the loan from him.
Answer #2
839 votes
Yes you can recover the same from your friend as you have filed a civil recovery suit for recoverd the same from your friend and also claim the interest for the said recovery amount. This amount you have claim within 3 years only.

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