Loan given to individual not being returned

A loan was given by transferring funds to an individual in living in Gurgaon.  Money was not repaid. 

What recourse do i have .   Loan was given in 2010.  

The receiver of the loan promised to pay back and never did.  He advised he is having a successful business and will invest there to grow his business

He had cooked up his books and i feel fraud was committed.   

Please advise. 


what proofs do you have that he avail a loan from you






I have the bank transfer  notices with details of the account the money was transferred from and to the account of the receiver. 

I do send him   spreadsheet reminder each year.   But he has verbally acknowedlged that he owes the money.  No  projected dates and amount of 

payback is given. 



you cannot succeed in your case. Better make attempts with mediators so that it may help you, otherwise if you want to enter into the Judicial steps, you may not be succeed. Its my opinion







Loan advanced in the year 2010 is now time barred and can't be legally recovered.forget it.
Dy Director

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 sense and cannot raise funds out of his own business and suddenly wants to be rich.


  1. who cannot raise bank loan because :-



he himself is not creditworthy



 the purpose for which he seeks loan is illegal



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 (friend 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 debtor
  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.
  4. During cordial relations


Soon after giving such loan :-


  1. Relations are no more remain cordial
  2. Business started by such money  (easy money belonging to other) invariably fails.
  3. Such loans always sink and not refunded.
  4. Person seeking such refund suffers at legal process.
  5. Person seeking such refund legally or by persualtion is socially criticised.



Total likes : 2 times


Loan was given way back in 2010. Your claims may not really succeed, as there is only verbal committment from his side. Best to take mediation steps.

If you feel you want to go via judicial remedies, then please file a recovery suit before the civil court. But be warned, that this could go on for many years.


when was due date of return? any agreement 




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