Lost entire money under sudden loan

4 yrs ago i took 50,00,000 from my several friends for shares trading. Partly not at one time. I used to give them 10 to 15% per month by my skill in share market. Last year in Feb 2013 one of my investor who invested 30,00,000 with me in December 2012 asked money prior the date immediately. At that time I failed to give him back that money, after that he impose 25% interest p.m on me on 30,00,000, along with that he defamed me and as a result everyone is asking to return their money immediately and I failed to do that, all of sudden i saw myself in big trouble then I took money on high interest and try to give them interest and there money. Interest on interest and this cycle goes on after 6 months I found myself in a loan of 3 Crore. (30000000).

Answers (1)

95 votes
If anyone threatens or hits you for your failure to repay the loan then file a police complaint against him/her. If the loan has not been repaid then creditor can take recourse to law to recover it from you. Under no circumstances he can take the law in his own hands.

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