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I have loaned money to a person for their business investment.
23-Sep-2024 (In Recovery Law)
We have loaned money 32 lakhs to a person for investing in their business. Now they are not repaying the same after asking continuously. It’s not only us. There are 7-8 people who have fallen in this trap. Altogether this person has loaned nearly 96 lakhs from us. He is not ready to pay back the same , and threatening us if we ask for it. Is there anything that can be done here to recover the money we invested ?
You can issue legal notice first after wards you file a case for recovery of money before the jurisdictional court. If he has not paid the amount after the judgment you can attach his property or else you can arrest him through court. If you need more advice please contact me.
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Adv. Savitha Savi
Mangalore | 200+ Answers
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