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Loan given to relative without agreement
22-Mar-2023 (In Banking / Finance Law)
We had give loan of Rs 10lacs to Mr X (7lacs through bank account & 3 lacs in cash) without agreement and after some months when we demanded our money back he says that he gave the money to Mr Y which is our close relative and he is not giving us back so what can we do legally to recover it either from Mr X or Mr Y?
you gave the loan to Mr X so you only receive your loan recovery to Mr X not to y. and the recovery of loan will be only for civil process so you can file civil suit case against Mr X. and you can also file one FIR against Mr X under saction 420 indian panal code.
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Adv. Prasun Goyal
Surajpur | 25+ Answers
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