quesLoan re-payed claimed as loan given

I have given loan of Rs.4,00,000 to my brother in cash. He has returned the same by sending the amount to my Company account. Now he has gone to the court saying that the he has given me the loan of Rs.4,00,000 and gone to the court asking me to return the money with Interest. But there is nothing in writing for this transaction. What shall i do?

  • ansDid you declare the loan in your income tax returns? How did your brother account for the same? If your brother has gone to court for contesting case on merits. Deny it was a loan. Further mention that there was no agreement to pay interest.

  • 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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