Reg:plain whitepaper signatured for loan repayment
rakesh
(Querist) 07 September 2017
This query is : Resolved
Dear Sir,
My father took 5 lakhs from a money lender though he claims he is not money lender (We are from AP, Nellore dt). Interest is Rs 2 for Rs 100 per month. So total amount would be Rs 8.6 lakhs after three years with interest of 3.6 lakhs and pricinipal of Rs 5 lakhs. Promissory note was signed on aug 20, 2014. Money lender has a habit of giving monthly chits reg interest amount to be paid. My father took the chit and had paid monthly Rs 12500 towards interest for 3 years. My dad claims he has paid 3.6 lakhs through out 3 years as interest and retains chits given by money lender. Rs 60k was paid up again in 2016 as interest.
Now recently at the verge of loan agreement will expire by 3rd year on Aug 20th, Money lender gave cooked up calculation infront of another person who is chitfund operator in my town and took signature from my father on plain white paper and wrote 7.6 lakhs amount as outstanding amount that needs to be paid May 25th,2017. But as per interest paid and chit given by money lender outstanding amount should be only 5 lakhs and he is taking advantage of interests paid in cash in hand.
Money lender is claiming he hasnt received any amount towards interest all these years. My father is just 10th pass and has no interest calculation knowledge at all. Out of compulsion by both parties, my father signer on plain white paper and money lender wrote Rs 7.6 lakhs to be repaid. Chitfund person said he will be witness and took the signed paper. Later gave the signed paper to money lender.
There are other mediators on both sides who had discussions previously with both the parties and after checking all details, they said to money lender debt has been repaid already and for that matter they paid 9.5 lakhs instead of 8.6 lakhs. Money lender agreed and left to return the documents but never came with document.
Money lendsers sons are now taking this in wrong direction along with their mom and threatening my brother. (Promisory note signed on aug 20th,2014 is expired as its beyond 3 years form the date of agreement entered into). But now money lender is balckmailing with white paper document my father signed ignorantly by force.
Money lender is now threatening my brother over phone on regular basis sending sms and whatsapp message with proofs of signed white paper showing 7.6 lakhs outstanding.They are hassaring my brother by threatening to beat him up when in town. money lender is saying he received bank deposit of rs 5 laksh from my father through bank transfer. My father paid this amount after we sold off our home.Money lender is saying we still need to pay rs 2.6 lakhs to them and as we are sons , we have to pay immediately. My brother has 3 lakhs chit amount kept for his wife operation with chitfund person. Now they are trying to grab my brothers amount wrongfully.
Pls let us know if the amount mentioned in plain white paper loan document to be repaid (7.6 laksh) which was signed by my father in the month of may month end 2017 . Whether this is a valid document and proof to court of law.
Can they place police compliant against my father and mother. Can we give place police compliant against them for this fraud and go legal against them. Pls help with advice on how to go about it. do we have to pay at any cost or can we fight back legally place police complaint against them.
Regards,
Rakesh
Adv. Yogen Kakade
(Expert) 07 September 2017
Too long query.. please brief your facts and post again.
rakesh
(Querist) 07 September 2017
Sir i edited again and i have given complete history of the case.Pls help.
R.K Nanda
(Expert) 07 September 2017
query too long to get reply on free site.
Rajendra K Goyal
(Expert) 07 September 2017
It seems you have been cheated, fraud has occurred on the basis of blank signed paper, threatening is there, you can lodge police complaint (FIR). If police does not lodge complaint, file complaint with the Magistrate after discussion with a lawyer.
There is no ground to threaten your brother for a loan taken and paid by your father.
Kumar Doab
(Expert) 07 September 2017
Take help of LOCAL counsel specializing in n such/civil matters.
The calculation atleast can not be wrong or cooked up and have more than one meaning.
