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How can I recover money lent to a relative
27-Jun-2023 (In Recovery Law)
I have given 10Lakhs money to my relative,Now he is not returning the money back,i have cheque,promissory note and a signed blank white paper,he had a property worth 30 lakhs and that property was on mortgage for 15 lakhs, Now how i can file a case on him and proceed further,If filed how many yeard it will take for hearing.please suggest me the right way....
If any person to whom you have given loan of any amount, then in such case you shall have the right to claim money amount from that person by filing a recovery suit under order 7 rule 2 of CPC against that person. But before you file any recovery suit you shall have to send a legal notice for the recovery of the said amount of loan by giving him 7 days to repay. If he does not pay the loan amount within 7 days of such period, then the civil proceedings shall be commenced against him.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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