Loan money recovery of rs 7 lakhs given via cheque
04-Sep-2023 (In Recovery Law)
I have given a loan of amount rs 7 lakh via cheque (4 lakhs and 3 lakhs ) to my family friend on rate of interst of 2.5%. In feb 2019. nAfter that he has given me interest of month of march and April (in cash)and then he stop paying me.Now when i am asking my money he is denying my interest because thier is no agreement of 2.5%. He has used my money for more than 3 years and now he just straight away denying to give interest and demanding time to pay the payment too.Can is their any legal option i can demand my money with interest? Please help
Send a legal notice to the person demanding all due with interest amount. In case the other person fails to repay or respond to legal notice , you may file a suit for recovery of money with interest in the court .Please remember you have to take the action within limitation period, once the period has expired it becomes difficult to recover your money.
Thanks And Regards
Thanks And Regards
If they are not listening to you then you can send them a legal notice and in that notice you can write either refund my money back along with compensation or face legal action. And if want to go legal then you can always forward a written complaint to the police station of your area. For more legal assistance I am just a call away.
Hi,
In the absence of any written agreement we will have to ascertain the facts to see if any evidence of your family friend accepting the condition of interest payment either expressly or impliedly can be found. If so then a case can be made for recovery of the interest amount as well.
Please feel free to contact me for any further assistance
In the absence of any written agreement we will have to ascertain the facts to see if any evidence of your family friend accepting the condition of interest payment either expressly or impliedly can be found. If so then a case can be made for recovery of the interest amount as well.
Please feel free to contact me for any further assistance
Hi,
As per the limited information provided by you there can be criminal and cheque bounce case against the said person but again it is important to know all the facts so that sane legal advise can be provided. Was their any agreement or how the money was transferred. It is important to know all the facts then only sane legal advise can be provided which will be helpful towards you. It will be better to align a meeting so as to know the facts.
As per the limited information provided by you there can be criminal and cheque bounce case against the said person but again it is important to know all the facts so that sane legal advise can be provided. Was their any agreement or how the money was transferred. It is important to know all the facts then only sane legal advise can be provided which will be helpful towards you. It will be better to align a meeting so as to know the facts.
For cheque bounce cases you can only ask for the amount which is mentioned in the cheque ..but when you will win the case …court generally gives at least 25% extra on the cheque amount …so don't even have to ask for any extra interest over the same and secondly at times during the process …people go for mediation even in the mediation you can bargain from your friend that until he pays me the entire amount with interest You will not withdraw the case … so anyways there are lots of options …be in touch with us thank you
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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