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Legal remedy to recover money lent without any agreement or witness
23-Mar-2023 (In Recovery Law)
About three years ago my cousin was asked for money of rs 100000/- for his personal purpose. And I Gave him Rs. 100000/- without any paper or witness. He was told me at that time that he will return my money within one year. But he not returned my money. And now he is refusing to return my amount. I dont want any intrest on that but still he is not returnung my money. Now what should I do. I need that money very much.
Hi. It will be very difficult for you to recover the money since it's already been 3 years and there is no documentary proof. You had been sleeping over your rights all this while so if now you take any steps for recovery, questions will be raised against you only as to why you did not act swiftly and what did you do all this while. In short even if you complain to police or pursue a civil action, doubt and suspicion will be raised against you itself since you had been inert all this while. Nevertheless I suggest you trace any correspondence exchanged between you and your cousin where there is a reference of that loan. Use that as a proof in a written police complaint against your cousin. That's the only way out. You have slim chances of recovering the money through court since you don't possess any documentary proof and even if you do have such proof, it will be a stale which is barred by law of limitation since it's been more than 3 years. So try your luck with Police. Even if you get 50-75% of your principal back, it will be worth the effort. Thanx.
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