Procedure to recover money from a friend legally

I lent 2 lakh Rs. to a friend in various instalments for his business in which he promised me a position and share in profit. When inquiring more about his business it turned out he was just wasting my money on wishful endeavours and he had borrowed money from many more. He started making false promises about returning the money. ultimately his family has asked to take whatever legal action we want as they don't care.He says he'll return the money by paying 2000 each month.Basically, He is not going to return the money and is just befooling us. What can i do now? what legal steps can help me recover my money

Answers (3)

236 votes

You can file a case under section 138 of negotiable instruments Act ,if the payment which is given by you is not in cash. You should file it within the limitation period. After the limitation period is expired it becomes difficult to file a case.

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247 votes

It is very simple sir. Send a legal notice to him for recovery of money. And after that file a suit for recovery against him in the court. But the basic things how did you make payment and what documents do you have with you. Or any other help contact me.

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There are various ways in which you can recover your money with interest. You can even recover your money if there is nothing in writing between both the parties regarding the lending of money. You can either get your money through legal way or through the other ways available.

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 and has been responded by one of the Recovery Lawyers at 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 or contact a Lawyer of your choice to address your query in detail.

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