Have to return loan to a person can he take any legal actions?

665 votes

if you don't have money then whatever you have in your name the court sold you property or immovable property in your name and after that first you contest the case and in between you have money just tell the court by moving an appropriate application that you are ready to settle the matter.

Advocate Sandeep Singh LawRato

836 votes

First of all do not be worried. Nobody can send you to jail like that. Has this person initiated any kind of proceeding against you? In law he can both file a criminal complaint and also a civil suit. In both these cases, he cannot seek your arrest immediately. However the best option for you, before he initiates any proceeding, you should contact him and offer some sort of settlement given that you cant repay him immediately. If you want to explore that possibility and need assistance, do get in touch. Regards

Advocate Shikhar Khare LawRato

940 votes

The type of remedies available to the Party who has lent money to you are plenty under the Indian Law. But he is most likely to file a civil suit against you for recovery of money . The answer to your query is simple either you settle as soon as possible or be prepared to return the lenders money with interest as well as damages for loss of opportunity and cost of his legal proceedings. Once he has a court order he shall go in for execution proceeding by which he shall be looking for getting your properties / assets attached .In case you do not have any assets to your name , then you could possibly be looking out for some jail time .Yes you may be arrested but in due course of time.

Advocate Vibhor Gupta LawRato