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Borrowed money on behalf of friend how can I recover the amount
10-Jun-2023 (In Recovery Law)
I'm from Chennai, My friend from Madurai had asked me money. To help him, I bought 1 lakh from my neighbor @ 3% interest P/M. My friend said that he will pay the interest on 1st of every month & repay the full money in 3 months. It crossed almost One year & he hadn't gave single penny. I'm paying the interest on every month properly (till date i paid 36 thousand). I went to Madurai for asking money & I got sign from him in a promissory note and came back. Still now he didn't gave money. Before bringing it to court, how to get back the money ? How to get the money with interest leagally?
You can send a legal notice to your friend demanding your money back. If your friend fails to reply to the legal notice then you can file a recovery suite in the civil court to recover the amount from your friend.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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