Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

AJain_India (Law Student)     06 November 2012

Recovery of dues

I am a cold store operator and rent out my store to traders. Some traders also take advance against material .

-  I had lent Rs 4 Lakhs amount to a trader against material through cheques plus the total rent of material stored was Rs 4.5 Lakhs. Thus total amount became Rs 8.5 Lakhs

Out of which i have received Rs 6 lakhs (Rs 1.5 lakhs through bank account and rest in cash without any receipt)

The trader has now taken most of his material and is not coming to pick his balance material which is worth just Rs 75000, while his total outstanding is Rs 2.5 Lakhs. 

 

Legally, how can i recover my money quickly..

 

 

 

 



Learning

 1 Replies

V R SHROFF (Sr. ADVOCATE Bombay High Court Mob: 9892432152)     13 November 2012

A student operating  storage!! 

U get seasoned next time, do not allow to remove material stored 

Rent of material stored is 4.5L  for material less than it.

If u have written contract, file suit to recover money, and court ordere to dispose off balance material. 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register