×

quesTook loan from a person. What all can he do legally against me?

I had an Apparel Export Firm that closed down 2 years back. I had taken money from friends and family to start this firm but incurred huge losses. One such lender had given me 10 Lakhs worth of cloth to make it into a finished product.



 



Now that he knows I am jobless and have incurred losses, he is torturing me mentally to give him his entire amount back. What all steps can he take against me Legally?



 

  • ans

     

    He has the option of initiating both civil as well as criminal proceedings against you.

     

    Civil will be one where he can file a recovery suit against you claiming the amount of money you owe to him for the cloth along with interest.

     

    Criminal can be a criminal complaint against you for the offence of fraud and cheating stating that your intentions were dishonest from the inception.

     

  • Send a legal notice for recovery of dues @ Rs. 1999/- only


    Know More
  • 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 LawRato.com and has been responded by one of the Recovery Lawyers at LawRato.com 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 LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Consult best Recovery lawyers in India

Similar questions

I want know about possession letter past by bank and says i file the case…
Sir, My father is missing from 1999 and we have filed complaint and received death…
I have paid money to socialtrade.biz and i made some other people to join in…
My dad had a 500 share of mutual fund. After father's death i am the…

Recovery Lawyers in India

Advocate Prashant Mendiratta

  Lajpat Nagar 4
 Experience: 24 years


Advocate Prabhjit Jauhar

  Connaught Place
 Experience: 20 years


Advocate Jaspreet Singh Rai

  Greater Kailash 1
 Experience: 14 years


Advocate Harish Malhotra

  District Court
 Experience: 19 years


View all >>

Quick Consult

Get 15 Minutes of Expert Legal Advice on Phone right now

Ask a Free Question

Post a Question online and get free advice from multiple lawyers by email

Find a Lawyer

Easily find and book private consults with top lawyers in India

Get Fee Estimate

Receive multiple quotations for your legal requirement instantly