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arun (IT Professional)     16 September 2014

11 lacks amount not returned by sister

Respected Sir,

          I have given 11 lacks to my elder sister for her daughter marriage. She is 60 years widow. She has 1 son and 2 daughters who are 35, 33 and 30 years old respectively. While giving amount I did not take any promissory note from her as I believed her a lot and she promised me that she will repay the amount within 6 months. By now, 2 years has been over, but she did not return amount. They don’t have any property on their name. Now I am asking her to write on stamp papers saying that she has taken 11 lacks from me, if she takes time to repay the amount. She is willing to put sign in stamp papers, but her son and two daughters are not ready to sign on stamp papers. Please resolve my queries

1.If my sister alone put signature in stamp papers and expired before repaying the amount ,whether those stamp papers are enough to ask my amount from her son even though earlier he did not put sign on stamp papers or to file a civil case on him, if ignored to repay my amount.

2. Is it better to ask for sign on promissory note or stamp papers saying that she has taken 11 lacks from me?

 

3. I am also asking for 11 lacks written cheque without date, Is it good idea.



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 5 Replies

Atlas Eva (CEO)     19 September 2014

In this matter Acknowlegement of Debt is most important, taking declaration on stamp paper is good idea, but do get it notrized and witnessed

also you can ask for a Post dated cheque

arun (IT Professional)     23 September 2014

Respected sir,

                    Thanks for your reply.if my sister alone put signature on stamp papers and expired before repaying the amount,whether those stamp papers are enough to ask my amount from her son even tThough earlier he didn't put sign on stamp papers or file acase on him,if he ignored to repay my amount

Thanks,

arun

T. Kalaiselvan, Advocate (Advocate)     25 September 2014

If your sister alone is executing a stamp paper loan agreement, she alone will be liable to pay the debt and not binding on her legal heirs. Remember who so ever are executing the loan acknowledgement are only held liable for the return of the legally liable debt and not a third person be it a legal heir too.  The alternative is to make the legal heirs as co applicant or guarantor.

Chaitanya Kulkarni (NA)     25 September 2014

if a am not mistaken, in this case you can make use of Quasi contract provisions under Indian contract Law 1872. Proving the liability & filing the recovery suite. Also  in the process you can bind her hairs for the paying the debt.

Sunil S Nair (lawyer)     26 September 2014

As an advised by Learned Counsel T. Kalaiselvan i like to include while drafting the the Declaration add a point with your sister name include, hers heirs,executors,administrators,and assigns etc) 

And if you are thinking of filing a suit then make sure payment procedure by you to your sister all particular transaction can be proved through your and hers respective banks in accordance to advise of Sir Chaitanya Kulkarni


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