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Loaned money not getting recovered


29-Jan-2023 (In Recovery Law)
Hi, I gave a loan of 13 lacs to a friend because he was in dire need of it since there was an open case going on. I took a loan and gave it to him. He promised that he will pay the EMIS on time. But he has not paid the last 5 EMIs and always pay it late. It causes a lot of stress to me. I want to take legal action towards him.
Answers (1)

Answer #1
816 votes
Hello, For this, you can file a civil suit for recovery in the concerned court afterwhich if he saying ti settle you can make a MoU with him and if default that payment you can file criminal case against him hope this works
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