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Recovery of 25 lacs FRIENDLY LOAN from son of a dead borrower


01-Sep-2025 (In Recovery Law)
Hi , I had given a FRIENDLY LOAN of 25 lacs to a known person for his investment in his business.He told me he would give an interest of 2 percent per month. This March he gave me post dated cheques of 36 lacs in total. He signed a written agreement in front of a NOTARY PUBLIC . His son and daughter in law signed ( and thumb impression) as witness . In April this year , he died.He has a factory in BAWANA worth 1 crore 20 lacs . I m worried that his son may sell that factory and I get nothing .
Answers (5)

Answer #1
628 votes
Since you have post-dated cheques and a written agreement signed before a Notary with witnesses, you can initiate recovery proceedings. If the cheques are dishonoured, you can file a complaint under Section 138 NI Act within the limitation period. Additionally, you can file a civil recovery suit against the legal heirs of the deceased borrower, as they inherit both assets and liabilities. To protect your interest in the Bawana factory, you may also seek an injunction from the civil court to restrain the heirs from creating third-party rights until your claim is decided. Immediate legal action is advisable to secure your dues.
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Advocate Adarsh Kumar

Adv. Adarsh Kumar

LawRato Delhi | 400+ Answers
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Answer #2
617 votes
Hi there, considering the circumstances you must file a recovery suit against the son and daughter at the EARLIEST. As if the property is sold it will be difficult to get the money back. At first you must send them a legal notice for repaying the debt. It's advisable to contact an Advocate on an URGENT basis and start the procedure.
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Advocate Ishan Parashar

Adv. Ishan Parashar

LawRatoDelhi | 200+ Answers
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Answer #3
992 votes
Hello !! in this respective issue you can initiate legal proceedings against the opposite party to recover the concerned amount. you can file suit for recovery before the Court and ask for the amount. if you have proper documents you have a strong case.
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Advocate Rahul Kumar Singh

Adv. Rahul Kumar Singh

LawRatoDelhi | 50+ Answers
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Answer #4
880 votes
First of all rather than going legally you should serve him/her a legal notice and in that notice you can write that either pay my money or face legal action which will be at your own risk. After that if he/she fails to give you a satisfactory reply then you can anytime file a recovery suit in the court to claim your money back along with compensations.
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Advocate Jitender Singh

Adv. Jitender Singh

LawRatoDelhi | 1000+ Answers
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Answer #5
547 votes
You have valid documents (loan agreement, cheques, witnesses) to support your claim. Since the borrower has passed away, his legal heirs are liable for repayment from his estate, including the Bawana factory. You can file a civil recovery suit against the legal heirs and seek an injunction to restrain them from selling or transferring the factory till your dues are cleared. You may also proceed under Order 37 CPC (summary suit on the basis of cheques). Immediate legal action is advised to protect your rights. For further assistance, you may contact me.
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Advocate Drishti Mittal

Adv. Drishti Mittal

LawRatoDelhi | 25+ Answers
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