Given money to someone on interest but not getting it back
12-Mar-2023 (In Recovery Law)
Sir, I am an Ex-serviceman and a senior citizen.I have given money on interest to some known person.He gave interest for few month and then for last 3 years he has neither given interest nor Principal.He does not even reply to my call or whatsup. Whenever I meet him he says he is trying to sell house then he will give my money.In Dec. I took loan to get my daughter married. I do not know how to recover money from him and what action should be taken against him. Please help me......
Hi. You have two options. First is a criminal complaint with Police against this person with all documentary proof to show that you had lent him your money. This letter has to be made CC to the Commissioner of Police. You have to request the Police to lodge a FIR against this person. If you do not receive any response from the Police then you can follow up with your letter through a RTI application to the Commissioner's office. The police website also has a dedicated tab for crimes and offences against senior citizens. You can try that as well for speedier remedy. Your second option is to file a civil suit in a district court for recovering your money. Since in your case the borrower has admitted his liability to repay you, you can go for a summary suit which is unlike a regular suit and is much faster comparatively. Along with your suit you can also file an application to expedite the matter since you are a senior citizen. Thanx.
Kindly let me know if you have any documents or agreement with regards to said transaction. As per civil laws you can recover a claim amount within 3 years from the date of acceptance of liability. You can file a criminal case also if he has accepted his liability. For more detailed advice kindly provide me with more facts.
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Recovery lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."