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Money lended with interest 5% interest but now not returning initial p


15-Apr-2023 (In Criminal Law)
Dear Sir, nnKindly suggest right directionnnI have given 3L rupees with an interest rate of 5%, first two he has paid interest rate and after that I mean last one year not paying interest and initial payment also. Now he not responding properly my call. I don't have agreement for the payment but I have bank transaction details. Which I have transferred and I received month on month interest details also for first two years. Now he threatening me you can't file complaint because you have given higher interest rate, so if you go to police then you also will be in trouble like that he saying. Kindly suggest what should I do.. Shall I file complaint.
Answers (2)

Answer #1
507 votes
There are two options. One is to file a police complaint and proceed further. Another is to send legal notice asking him to pay the interest and principal amount and close the debt. If he does not pay then you can file civil and criminal cases. Bank transaction details are sufficient. If you have cheque from him then you can initiate cheque case as well.
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Answer #2
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