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Recovery of money lent without paperwork
31-Jul-2023 (In Recovery Law)
Hi, My friend borrowed money from me, four years ago. I was not having that much money so I have taken 3 loans from different place 9 lakh, And now I am trying to reach him through mobile but he is not lifting a call. Could you please suggest what I have the option to take legal action on him. I have only a bank account statement when I transfer money to his account. As he was a close friend, did not ask for any documents. And My family isn't aware of this fraud.
Keeping in view of your situation. I would recommend you to serve your friend with a legal notice for recovery of the said amount. As your debt is more than 3 years. Therefore, your case is barred from limitation. If you have any evidence to prove that you have asked him about the said money within 3 years then your case will not be hit by limitation.
In case you require any further clarifications, please feel free to contact me.
Thanks
Prateek Jain
In case you require any further clarifications, please feel free to contact me.
Thanks
Prateek Jain
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Adv. Prateek Jain
Bhopal | 25+ Answers
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