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How to recover money which was given to a friend
16-Jul-2023 (In Recovery Law)
There are number of ways by which you can create evidence of payment made by you.
The fact that you have a cheque, promissory note and cash receipt is enough to prove the existence of the loan. So in case your friend does not make the payment within time, you can file a recovery suits with respect to the entire amount on the basis of cash receipts and promissory note .
In the alternative you can initiate a Criminal Complaint as well against him under Section 138 of the Negotiable Instruments Act in case the cheque or promissory note is dishonoured.
So you do not need to worry about getting your money back as you have the documents to prove the existence of the loan and claim your money back in case the same is not paid.
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Adv. Chikirsha Mohanty
Delhi | 200+ Answers
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