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Gave money to relative for business, now he is not returning
29-Jun-2023 (In Recovery Law)
I had given 7 lakh to one my relative fr purchasing old car. Now he is not giving it back. He promicing to give but not doing the same. I had done all the bank transfer but no paper work.
Thats the hard lesson you learned. You are not banker or money lender to give money.
Henceforth keep in mind, if you are giving friendly loan, kindly have the MOu signed/notarized along with post dated cheque. This would safeguard your future rights.
As a hope, you can issue legal notice through advocate to your relative and hope for some positive reply. If your relative admits taking of money in the reply, you can take steps for filing of case.
Expert Jurist LLP.
Henceforth keep in mind, if you are giving friendly loan, kindly have the MOu signed/notarized along with post dated cheque. This would safeguard your future rights.
As a hope, you can issue legal notice through advocate to your relative and hope for some positive reply. If your relative admits taking of money in the reply, you can take steps for filing of case.
Expert Jurist LLP.
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Adv. JV Bhosale
Mumbai | 400+ Answers
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Since the entire loan amount is done through bank transfer it will help you to recover your money. Your bank statement is a admissible proof in court. You can file a civil suit to recover your money. Kindly book a consultancy call for further line of action and specific advice.
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