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Dear Sir,nI have given a hand loan of Rs. 19 lakhs to a friend of mine and he is not paying me back


07-Jun-2023 (In Recovery Law)
Dear Sir,nI have given a hand loan of Rs. 19 lakhs to a friend of mine and he is not paying me back. All transactions were done through bank. I have not taken any promissory note, but he has given me 3 signed cheques and property document of his wife's land. I had given him the money on interest, for which he paid some interest until February of 2022, but after that since August 2022 he is not responding to calls and is also not available at home. Kindly let me know the solution for recovery.
Answers (2)

Answer #1
963 votes
hi you could send a legal notice seeking recovery of money to repay the amount within a specified period and if he is not repaying then you could file suit for recovery of money and if you are having cheques then you could deposit them in bann and could file cheque bounce case against such person
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Advocate Baddam Aravind Reddy

Adv. Baddam Aravind Reddy

LawRato Secunderabad | 1000+ Answers
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Answer #2
979 votes
legal notice for recovery of money is generally a formal communication and a sort of deterrence between one party(plaintiff) warning the other(defendant) before proceeding with any legal action in order to receive their debt. The most usual problem among people is a friend not giving back their money.
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Advocate Hemlata Nageshwar Pitlewar

Adv. Hemlata Nageshwar Pitlewar

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