quesLost entire money under sudden loan

4 yrs ago i took 50,00,000 from my several friends for shares trading. Partly not at one time. I used to give them 10 to 15% per month by my skill in share market. Last year in Feb 2013 one of my investor who invested 30,00,000 with me in December 2012 asked money prior the date immediately. At that time I failed to give him back that money, after that he impose 25% interest p.m on me on 30,00,000, along with that he defamed me and as a result everyone is asking to return their money immediately and I failed to do that, all of sudden i saw myself in big trouble then I took money on high interest and try to give them interest and there money. Interest on interest and this cycle goes on after 6 months I found myself in a loan of 3 Crore. (30000000).

  • ansIf anyone threatens or hits you for your failure to repay the loan then file a police complaint against him/her. If the loan has not been repaid then creditor can take recourse to law to recover it from you. Under no circumstances he can take the law in his own hands.

  • Send a legal notice for recovery of dues @ Rs. 1999/- only

    Know More
  • 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.
Consult best Recovery lawyers in India

Similar questions

Recenty I have been called for an interview in NISG(National Institute for smart governance) new…

Hi I have been duped by my real estate agent who sold me fake site…

Hi Sir, Last year i got the credit card form HDFC bank i was made…

I am Abhay from Gwalior. My dad has given some amount of Rs/- to one…

Recovery Lawyers in India

Advocate Prashant Mendiratta

  Lajpat Nagar 4
 Experience: 24 years

Advocate Prabhjit Jauhar

  Connaught Place
 Experience: 20 years

Advocate Jaspreet Singh Rai

  Greater Kailash 1
 Experience: 14 years

Advocate Harish Malhotra

  District Court
 Experience: 19 years

View all >>

Quick Consult

Get 15 Minutes of Expert Legal Advice on Phone right now

Ask a Free Question

Post a Question online and get free advice from multiple lawyers by email

Find a Lawyer

Easily find and book private consults with top lawyers in India

Get Fee Estimate

Receive multiple quotations for your legal requirement instantly