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Mohammad Raashid (HR Manager)     25 June 2016

Loan amount recovery

I had given a loan of some amount to one of my friend almost a year back. at the time of receiving loan is promised to pay in one month but till date he didn't paid. when ever i called him he saying in 2 days in days or next month. but both these two days and next month not yet came. Now i m planing to file a case on him. can you suggest me by which IPC i can file a case and what document required to prove that he taken the loan from me. i transfer the amount in his account and i have the transfer paper with me.


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 9 Replies

Kappil Cchandna (Expert Bail & Criminal Defence Lawyer at Delhi Supreme Court of India)     25 June 2016

Sir, 

 

It is advisable to send the legal notice first and the go for any case, becasue sometimes even legal notice do great work. 

 

Warm Regards 

Kapil Chandna Advocate 

9899011450

Mohammad Raashid (HR Manager)     25 June 2016

Dear Sir,

Legal notice will be send by advocate or by himself. is it on stamp paper or in any paper will work out.

Kumar Doab (FIN)     25 June 2016

First thing first; Get admission of borrowing/debt.

Approach a very able counsel specializing in such/civil/criminal matters and proceed further under expert advise of your counsel.

 

JustAdvisor (IT)     25 June 2016

you are saying he promised to pay in one month. is there a record of any of his promises in any form? if yes submit it to an able counsel as rightly advised who will take it further.

saravanan s (legal advisor)     25 June 2016

If you had done transaction through bank and if you have records for the same you can file recovery suit against him

(Guest)
Sir myself Advocate frm,Hyd.plz,do,specify what are the,supporting documents u have to prove that u have lent the,loan..Eg.Cheque or Pronote or any other.If u,need legal service do inbox me.Then,appropriate legal course,of action,can,be,initiated.Thank u . .Balachander Reddy,Advocate

(Guest)
Legal notice will be,sent by,Advocate .if u,need,to avail my service u,can inbox,me.

Sudhir Kumar, Advocate (Advocate)     28 June 2016

Money given to friends and relatives is always a charity in the garb of loan which is given in expectation of refund but always taken with intention of non-refund.

 

Such loan is taken by a person:-

 

  1. Who lacks business sence and cannot raise funds out of his own business and suddenly wants to be rich.

 

  1. who cannot raise bank loan because :-

 

Either

he himself is not creditworthy

 

Or

 the purpose for which he seeks loan is illegal

 

or

the purpose for which he seeks loan is not at all commercially viable.

 

  1.  Who knows he can afford not to refund.
  2. Who trusts his thick skin
  3. Who intends not to refund
  4. Who has made fortification against action of refund.

 

So he has to find someone who can part with his money. SO he finds a lender near him (fiend or relative)

 

Such loans are given by the persons :-

 

  1. Who has surplus money.
  2. Who displays and boasts of such surplus money.
  3. Who stupidly believe that there will be a refund.
  4. Fails to realise as to why he alone (not bank) is being contacted for loan.
  5. Who has extreme trust on the debor
  6. who are either stupid or extremely greedy of the unusual (or illegal) rate of interest.

 

Such loans are always given

 

  1. Without documentation.
  2. Without witness
  3. Without guarantor.

 

Business started by such money  (easy money belonging to other) invariably fails.

 

Such loans always sink and not refunded.

 

 

Sudhir Kumar, Advocate (Advocate)     28 June 2016

Money given to friends and relatives is always a charity in the garb of loan which is given in expectation of refund but always taken with intention of non-refund.

 

Such loan is taken by a person:-

 

  1. Who lacks business sence and cannot raise funds out of his own business and suddenly wants to be rich.

 

  1. who cannot raise bank loan because :-

 

Either

he himself is not creditworthy

 

Or

 the purpose for which he seeks loan is illegal

 

or

the purpose for which he seeks loan is not at all commercially viable.

 

  1.  Who knows he can afford not to refund.
  2. Who trusts his thick skin
  3. Who intends not to refund
  4. Who has made fortification against action of refund.

 

So he has to find someone who can part with his money. SO he finds a lender near him (fiend or relative)

 

Such loans are given by the persons :-

 

  1. Who has surplus money.
  2. Who displays and boasts of such surplus money.
  3. Who stupidly believe that there will be a refund.
  4. Fails to realise as to why he alone (not bank) is being contacted for loan.
  5. Who has extreme trust on the debor
  6. who are either stupid or extremely greedy of the unusual (or illegal) rate of interest.

 

Such loans are always given

 

  1. Without documentation.
  2. Without witness
  3. Without guarantor.

 

Business started by such money  (easy money belonging to other) invariably fails.

 

Such loans always sink and not refunded.

 

 


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