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Not able to collect relative loan given by bank transfer


18-May-2024 (In Recovery Law)
I have given loan to my sister family by transfering funds from my bank account to her mother in law account when they receive notice from Bank for not paying EMIs under SARFAESI ACT. Now they are not returning my loan amount even repeated follow ups and in person meeting in their house. Always giving false promises as will pay but not honoring. Please advise legal course of action. Money transfered to their bank account on 13th July 2021. Please advise legal course of action. thanks
Answers (1)

Answer #1
550 votes
hi if they are not repaying the amount then you could aend them a legal notice to the persons who took loan and who are unable to repay and if they failed to pay then you could file a civil suit for recovery of money
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