dear sir,s
i would like to know that can an old and retired person of age 84 (who is not physically well and has a mentally retarded son and his family to take care of) give his savings on interest to his relative, if the relative assures him of proper monthly payment of interest (verbally) which will be helpful to the old person to fulfill his monthly expenses.
what legal recourse do this old person have in case he is given interest only for a month or two and then the relative makes excuses and doesnt pay any interest or capital.
also what legal recourse do the old mans daughter in law has if the old man dies cos of illness and tension due to the fraud committed by the relative who took the money on interest. can a criminal case be filed against such relative on the basis of his undertaking on his firms letter head that he is taking the money without interest and willing to pay back whenever demanded.
note : in the above mentioned case there is no documentaray evidence that the money is taken on interest or that interest of any sort is paid any time, only documentary evidence is the persons firms letter head on which it is written that the money is taken just to be kept in custody and returned whenever demanded.
please help.
