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My father lent some money to his friend and he is now not returning
06-Aug-2023 (In Recovery Law)
Respected Sir. 5yrs back my dad helped his friend who incurred losses in his business. That man now is threatening and refusing to give our money. Initially promised to give 1 flat to recover half amount and balance cash but now refusing to give anything. My dad went into depression and suffered paralytic stroke & had got a clot in his brain. We are very badly cheated. 5yrs back my dad gave him upto 28 lacs in the form of cheques which is a proof but remaining 20 lacs was just cash which we have no proof. But now this man just gave 6lacs & as my dad suffered paralytic stroke he is cheating us.
You ought to have been careful before lending the money. No doubt you have been cheated but recovery looks doubtful. Period of limitation for debts is three years. If the borrower accepts that he is due to pay your father the money he owes, then the period of limitation is revived for further period from that date onwards. Otherwise, you will not be able to approach court of law for recovery of money even though you have proof of payment. Presuming that period of limitation is revived, it would become difficult for you to establish that friend of your father had received Rs. 20 lakhs by cash. However, you have one option open to you. Lodge a complaint of cheating with local police against your father's friend. Friend may yield to pressure of circumstances and repay the amount or acknowledge debt.
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Raghavendra Rao B.K.
Bangalore | 200+ Answers
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Hi Querist,
It is sad that your father has been cheated, it is even more sad that he has suffered a stroke. Strictly speaking 5 yrs back loan cannot be lawfully claimed unless your father has demanded the amount within 3 years, the balance 20 lacs u can some how get witness to say that he has received that amount or if u hv some proof of communication wherein he has accepted that he has recieved 20 lacs. The fact that he has given 6 lacs can help u to claim your money that in lieu of the loan alone he has paid the amounts to u r father and therefore u can assert u r case.
Pratap, Adv
It is sad that your father has been cheated, it is even more sad that he has suffered a stroke. Strictly speaking 5 yrs back loan cannot be lawfully claimed unless your father has demanded the amount within 3 years, the balance 20 lacs u can some how get witness to say that he has received that amount or if u hv some proof of communication wherein he has accepted that he has recieved 20 lacs. The fact that he has given 6 lacs can help u to claim your money that in lieu of the loan alone he has paid the amounts to u r father and therefore u can assert u r case.
Pratap, Adv
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Adv. Pratap Kumar
Bangalore | 200+ Answers
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