queshow to recover money lent to family friends as they are refusing now

We have lent 20lacs to a family friend. We have all documents for the same. Now the amount is 40lacs including interest. now they say we can only give 17 lacs whereas the amount lent to them was 22 lacs. How can we recover the amount from them now?

  • ansIf your family friend is very adamant in returning back your amount then you have the option to file a recovery suit against him by approaching the civil court. More importantly the interest part depends on the terms of the documents available with you.

    The limitation to file recovery suit is 3 years, calculated from the date of refusal to return the amount or as per the terms of the agreement, as per Limitation Act.

    You also need to pay appropriate court fees as per Court Fee Act while filing recovery suit.

     

  • ansIf your family friend is very adamant in returning back your amount then you have the option to file a recovery suit against him by approaching the civil court. More importantly the interest part depends on the terms of the documents available with you. The limitation to file recovery suit is 3 years, calculated from the date of refusal to return the amount or as per the terms of the agreement, as per Limitation Act. You also need to pay appropriate court fees as per Court Fee Act while filing recovery suit.

    Advocate Jagadish N

      Adugodi, Bangalore

  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Recovery Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
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