Recovery of money
Advocate Ravinder
(Querist) 22 June 2014
This query is : Resolved
Dear Experts,
My client’s friend had requested my client to pay a sum of Rs. 2 lacs as hand loan. As he is a close friend, my client had transferred the amount by way of Bank account. He had promised my client that he will repay the sum within one month. As he trusted his friend he did not insisted for any promissory note or any written letter. After one month when my client reminded him to repay, he is not lifting the phone and not responding properly. Is there any way to recover the money. Can the bank online transaction can be deemed as a proof of payment of hand loan. I request the learned experts for their comments.
R.K Nanda
(Expert) 22 June 2014
yes, the bank online transaction can be deemed as a proof of payment of hand loan. take its print out and file suit for recovery in civil court.
ajay sethi
(Expert) 22 June 2014
it is not necessary that it is loan . it can be gift in favour of friend . you dont have any documentary evidence that it is a loan .
your friend should immediatedly send a letter to friend that sum of Rs 2 lakhs was advanced as friendly loan on basis of assurances that loan would be rapid within one month . request him to do the needful
Rajendra K Goyal
(Expert) 22 June 2014
Your friend should send letters as advised by the expert ajay sethi ji, and later send legal notice.
He can also record telephonic conversation in which he has accepted the liability.
Kumar Doab
(Expert) 22 June 2014
If the friend is not answering phone calls arrange a meeting and extract acceptance of amounts transferred in Bank a/c as loan, and keep some unshakeable witnesses too.
