Procedure to recover money through promissory note

Question

Procedure to recover money through promissory note

08-Dec-2023 (In Civil Law)

Hlo sir I gave 25000 rs to the person By keeping their original bike RC and he didnt paid single rupee from last 2 years and i took his signature on promisory note also and i went to his address which mentioned on RC but they are vacant from their and now how can i get the amount Do need full

Answers (3)

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Advocate P V Reddy LawRato · Accepted Answer · 2017-12-09T21:36:10+05:30

Answer #1

You can file suite in court of law for recovery of money basing on promissory note including interest. You have to pay batta for issuing summons for his appearance before court, what mentioned in his RC. For that address if he not received after 3 times of batta paid you have to give paper publication basing on that if he not come to court he will be ex-party and decree infavour of you.Once decree is passed the limitation is 12 years in mean while you have to trace out his address and file for execution.

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Advocate Ashwin Jaiswal LawRato · Accepted Answer · 2017-12-09T23:34:24+05:30

Answer #2

Firstly you trace his address. Thereafter issue legal notice through advocate calling upon him to pay the amount received from you. If he fails to do so, file suit for recovery amount before competent court of law.

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LawRato LawRato · Accepted Answer · 2017-12-12T10:27:38+05:30

Answer #3

Bear in mind that the promissory note is valid for 3 months from the date of drawing the instrument(generally people do not put a date to overcome this limitation). If you have sufficient proof of payment of money, you can file a recovery suit alongwith interest.

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