Person filed complain for recovery of his money in police station

I have taken Rs.120000 from N 2 years ago without any document and yesterday he files a complaint against me at the nearest police station for non repayment of his money and in police station i said that i will pay all the money but on monthly basis i.e. Rs. 5000 per month but N is demanding to pay all the money within 2 days now please suggest what can i do . and what action will be taken by the police against me i.e which sections will be charged on me and how bail will be grant to me ?

Answers (2)

As per the facts provided by you it seems that it is a civil case. Kindly let me know as why exactly you were called by the police. As you mentioned that there is no documentation of the said transaction, then police cannot take any action without any proof. Kindly provide me with more details for a detailed advice. You can apply for an anticipatory bail before session court. For any further clarification kindly book a consultancy call.

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Hi. Since you have admitted your liability before the police authorities, they can lodge an FIR against you and take legal action. I suggest you request the lender to accept any security from you for the time being and sign proper documentation for record. It can be agreed that in the event you default, the lender will have right to liquidate the security to realise his dues. If that is agreeable to lender than nothing like it. This is the only way out for the time being to avoid any legal consequences. You can offer either some jewellery or some other valuable and realisable security having value equal to the outstanding amount due and payable by you to lender along with agreed interest. Thanx

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