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Harshal Naik (Student)     09 July 2012

To recover money given to someone

Hi,

One person has to pay us Rs.1,12,000

We have given him money by cheque for investment.

He had given us interest earlier. Later on he didnt give saying that he is in loss. He told us that he will pay the money.

We have a written agreement saying that we have given money to him and he wil give monthly returns as well as give us full amount back when required.

1. As per agreement he had to give money back,he didnt give

2. He said he will give a cheque of 10,000Per month as installment to return my money, he is not giving

3.Now he is saying that i am collecting money through chit fund and giving you.

We have paid all amount by cheque, we have all proofs.

This person is not a permanant resident of my city. He keeps on changing places and switches of phone and cuts our call when we call for money.

How should we recover money from him. His permanant address is different



Learning

 5 Replies

Adv.R.P.Chugh (Advocate/Legal Consultant (rpchughadvocatesupremecourt@hotmail.com))     09 July 2012

I am afraid you'd have to file a civil suit for recovery against him. Also institue necessary criminal complaints against him as the guy appears to be a con man, criminal proceedings have a deterrent effect and not civil proceedings. 

1 Like

Advocate Bhartesh goyal (advocate)     09 July 2012

I  am also of the same opinion as expressed by Ashish Devessar. 

Harshal Naik (Student)     09 July 2012

hello sir, thank you all for your replies. This person is not a con man. But due to some circumstances he is unable to pay us the money. He wants us to give him time. We were ready to give him time but this man doesnt pick our phone  calls. He calls us and gives excuses that he is not well, someone expired etc. But now we cannot wait for him.

 

What is the procedure to file a civil suit of recovery against him.

and what decision can court take if he say that he has no money at all to pay ?

How much time does it take for recovery

Sudhir Kumar, Advocate (Advocate)     16 May 2014

you keep him giving time till your suit gets time barred and thereafter you cannot even file a suit and forget about money.  Let him acknowledge debt in wrting if he wants more time.


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