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Accused Absconding with the money lent how to proceed legally with it
14-Sep-2023 (In Criminal Law)
Hi, My father lent a sum of amount to a well known person for his personal needs with proper promissory notes in guarantee of monthly interest.After a couple of months, he absconded with money we gave and is unreachable now.His family and some of his relatives are reachable and but they are pretending that they too are not aware of where their son was! we are aware that he has purchased some immovable assets previously with the amoount lent from various other lenders(it seems there are approx 4-5 affected along with us), but they are registered on his parent's names(we suspect he does'nt own any properties on his name) when we tried to take this issue to his parents, they said they are not responsible of their son's actions and cannot do anything untill he comes back to them. we registered a missing case with the local police , but of no use. It's been more than 6 months and there is no development on this issue from the police.Please suggest us a strategy to adopt in this situation
No problem we can collect the amount with their parents also, but we have to twist the law and proceed, then only we can get the amount. If you are willing to get amount you can come and meet me with all of your co losers.
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This is suggestion only. First you file the Suit the recovery period is only for threeyears under promissory note .After you success in the said suit limitation period for 12 years for recovery of debt then you can take steps.your debtor is hindu you attach the property of his parent then the process is going on.
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Adv. Mohammed Ghouse
Cuddapah | 100+ Answers
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if you want to deal with proper so you need to consult an advocate personally with all supportive documents then only you will get proper guidelines and you will have to move with proper process with you case.
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