Recovery of money


One of our relative borrowed Rs 16 Lakhanpal from me for a week in October 2012 . Rs 3.5 through Che queen and rest in cash. Every time he do promise to return but he didn't . I have some SMS detail of conversation with me in which he agreed . Now I lodge a complain in the police station.Hehad been called by the IO. In front of police he aagreed to refund the money by march 2019 which in the writing and addressed to the SHO. My question is- if he. Does not return the money can I go to court. Through court can I get back my money. Written statement to SHO valid or not. Pl advise
 
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Advocate

Yes if he fails to return you the complete money by the date/year he has promised to pay, you can on the basis of all the undertaking given by him, and other documentary evidence can file sumary suit for recovery of the money under order 37 Civil Procedure Code in the district civil court.

 
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Though your claim is time barred but since he has accepted his liability and also assured to return by 2019 so in the light of admission the limitation revived and if he does not pay as he promised then you can also recover the same through court.

 
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Apparently your claim is time barred,but if your relative has acknowledged the loan amount in wŕiting within the period of three years from the date of borrow of money then limitation would extended else not  and you can not initiate proceedings for recovery of amount.

 
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what if one sent notice to that person by speed post several times monthly but the person neither replied nor deny the loan amount.The question is whether it is deemed as implied acceptance for the revival of limitation .

 
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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 :-

 

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 (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.

 

 

 
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FIN

The admission should help you.

Act in time.

 
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FIN

 
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FIN

Mr. Gajender has shared the prespective.

 
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