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Clarification on recovery of money given to friend as a loan
19-Mar-2023 (In Recovery Law)
I have give 2 Lakhs to my friend to help him for a tenure of 15 days only ...now it is around 3 years and he has returned me only 25 thoudand...how can i recover the balance amount..as i am in touble due to this.. and all amount 2 lakh i have transered using NEFT
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File recovery suit for recovering your amount. The transaction is recorded and you have payment proof...but the other person may take defends that the money was due that is why you paid the amount, therefore you must have some evidence to show that the money you gave was a loan
File recovery suit for recovering your amount. The transaction is recorded and you have payment proof...but the other person may take defends that the money was due that is why you paid the amount, therefore you must have some evidence to show that the money you gave was a loan
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Adv. Manoj Parve
Pune | 25+ Answers
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Hi. You will have to file a suit in District Court for recovery of money. Since it's already been 3 years, you have a stale claim. But you can always say that you extended the contract for repayment orally from time to time. Simultaneously you can also lodge a police complaint against your friend for cheating and fraud. You will need some document or any other correspondence to show that the money was given to your friend as a loan and not against any other thing.
Helpful?
If your have documentary proof, you can file recovery suit, but the thing is for filing Recovery suit u have to pay stamp duty applicable to your case, further also note that if your friend executed any written documents or only NEFT is proof.
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Adv. Uma Shankar Sinalkar
Mumbai | 25+ Answers
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