×

quesLost 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).

  • ansIf 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.

  • Send Legal Notice For Recovery Of Dues with Expert Lawyers
    Know More

    Click here to see all Recovery Legal Services
  • 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 Recovery Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Consult best Recovery lawyers in India

Similar questions

I purchased (registered) a flat/apartment in JAN 2014 in from a builder. The builder has…

Hello Sir/Madam, I was working at Accenture Mumbai as a software engineer. I needed some…

Sir My friend take private loan on my reference from a person that not legal money…

My father made a committee, due to some reason we suffered huge loss and all…

Recovery Lawyers in India

Advocate Prashant Mendiratta

  Lajpat Nagar 4
 Experience: 24 years


Advocate Prabhjit Jauhar

  Connaught Place
 Experience: 20 years


Advocate Jaspreet Singh Rai

  Greater Kailash 1
 Experience: 14 years


Advocate Harish Malhotra

  District Court
 Experience: 19 years


View all >>