Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Manjunath   14 June 2019

How to recover loan given to relative?

- My mom gave a loan of Rs 4.20 lakhs to her sister for her daughter's education purpose on the year 2016. - She did not make loan agreement but had transferred the amount via NEFT. - 1st proof: The bank statement. - On the beginning of this year 2019, my mom asked for repayment details and gave them a loan agreement to sign based on a lawyer's advice, but her sister's husband and her sister hurled abuses at my mom and told that they were not going to repay the amount nor sign the agreement. - 2nd proof: Luckily I had recorded the telephonic conversations between them and my mom and me. It contains details about loan details, abuses, little of family dramas. But the important thing is in that they have acknowledged the said amount. - One important thing they said in telephonic conversation is that only 1.5 lakhs was spent for their daughter's education and the rest was for "other purpose". - 3rd proof: we have a photocopy of original loan agreement sent too. - Now how should I proceed? - Should I complain to police or go to lawyer?


Learning

 2 Replies

Adv Rohit Dalmia 9324538481 (Lawyer)     21 June 2019

Hello Manjunath!

It is a civil matter at the very first place. since it's a money recovery issue, you need to serve a legal notice to them asking for return of dues failing which covil action will be proceeded against the sister of your Mother. But the notice needs to be carefully drafted as it will be a vital document as an evidence. You may engage an advocate for serving notice.

 

Regards

Adv. Rohit M. Dalmia

9324538481

Manjunath   24 June 2019

Thank you very much for the reply..

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register