How to recover money
22-Jan-2023 (In Recovery Law)
One of my friends loaned 1.5 lakhs to a person, it was transferred via online bank transfer and now hes ignoring and not paying back, there was no written contract, can a summary suit be filed for this, as a regular recovery process takes a very long time, also would payment demand notice be considered a contract legally, please let me know how to proceed
Your suit for recovery will have to be instituted in Bihar unless you can show some nexus between the defendant and Bangalore, for example if the Defendant works for gain in Bangalore. File a summary suit to recover the amounts. Feel free to get in touch if we could be of any further assistance to you.
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.
You may file a civil a suit for recovery before the district court in your local jurisdiction.
You may also claim you loss and damages in that said suit.
You have to produce all the document/papers in the said suit.
You may also claim you loss and damages in that said suit.
You have to produce all the document/papers in the said suit.
Hi,
As i understand from your query there is no proof or evidence by which you can prove that , you have given money to this person. In such situation your only hope is that he keeps his word and pay you back. For time being whenever you make call to him asking him to return money, record that conversation. This way you will have proof with you as he is agreeing that he will pay you back, which shows he took money from you. You can save any messages or chat also as a proof with u and than can take legal action to recover your money.
As i understand from your query there is no proof or evidence by which you can prove that , you have given money to this person. In such situation your only hope is that he keeps his word and pay you back. For time being whenever you make call to him asking him to return money, record that conversation. This way you will have proof with you as he is agreeing that he will pay you back, which shows he took money from you. You can save any messages or chat also as a proof with u and than can take legal action to recover your money.
Sir, don't worry. Your money is fully secured, no worry about money. Court will help you.now your cheque is bounced you filed a suit against him under section-138. They will be criminal in this act court also fined or impresserment to person
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