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Recovery of Money legally please help


03-Aug-2023 (In Recovery Law)
I have given loan to my father friend of amount rs 22 lakh via bank transfer on 2019 at 2% interest. nHe paid me 1 month interest and then he stop paying me interest .After a two 2021 i am urgent need of money i contact him to repay my loan but he says he do not have money due to bad condition of works.As i need money on urgent basis he loan me his friend money amount rs 31 lakh in cash he demand for a written proof (that i have loan rs 31 lakh at 2% interest rate and in that i have written that i will return this money on feb 2022 and 3 security cheque)nnI didn't pay any interest on 31 lakh as my interst payment has been hold tooNow he is demanding me for his money and not talking about my money nWhat legal option i have please tell
Answers (3)

Answer #1
580 votes
you can file a suit for recovery against your friend claiming the money but I will have to go through the written agreement that you made with your friend in order to understand on what terms and conditions did your friend loan the money to you and what is the status of the cheques? have they been deposited in the bank? for further queries please feel free to contact
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Advocate Kartik Krishan Sood

Adv. Kartik Krishan Sood

LawRato Delhi | 100+ Answers
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Answer #2
908 votes
Hi, For a proper response to your query I will have to see the documents regarding the two loans. However, considering that you have handed over three security cheques for the amount it is crucial to resolve this issue before any NI Act proceedings are initiated against you. Please feel free to contact me for clarifications and further assistance
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Advocate Kunal Srivastava

Adv. Kunal Srivastava

LawRatoDelhi | 100+ Answers
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Answer #3
894 votes
If they are not listening to you then you can send them a legal notice and in that notice you can write either refund my money back along with compensation or face legal action. And if want to go legal then you can always forward a written complaint to the police station of your area. For more legal assistance I am just a call away.
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Advocate Jitender Singh

Adv. Jitender Singh

LawRatoDelhi | 1000+ Answers
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