Friend not returning money
Nitin
(Querist) 18 May 2025
This query is : Resolved
One friend requested me to lend him some money as there is some medical emergency. I told him i have money but i am closing my personal loan. He told that lend me the money and I will pay the EMIs every month. So I trusted him and transferred 70,000.
He paid me 2 EMIs amount and then he stopped paying since a year. I requested him so many times that I also do not have money please pay EMIs but he just kept giving promises not money.
I want to know what are legal remedies for me to recover my money from him. Its over 1 Lakh for now. Please suggest me some solutions.
Thank you.
T. Kalaiselvan, Advocate
(Expert) 18 May 2025
You issue a legal notice demanding return of your loan amount with interest, failing to respond you may file a suit for recovery of money to recover your money
Sri Vijayan.A
(Expert) 18 May 2025
Expert Adv Sri T Kalaiselvan has given right advice.
Nothind to add, I endorse his view.
Dr. J C Vashista
(Expert) 19 May 2025
Before proceeding to recover subject loan amount certain questions have to be replied such as:
You have advanced loan to your friend in cash or through bank transaction ?
Did your friend acknowledged receipt of Rs. 70,000/- in any manner ?
Whether any agreement was executed or cheque / promissory note or any other instrument was drawn in your favour for the loan amount ?
Nitin
(Querist) 19 May 2025
No agreement was done, it was just verbal. I have transferred him through UPI. He paid 2 5200 EMIs and the stopped since more than a year.
@Kalaselvan sir suit for recovery of money, all this will be through court no?
Someone suggested to go through Economic Offense Wing as that will be fast and low in cost.
