Money recovery

Bhaskar Chinthalapally (Querist) 15 October 2024 This query is : Resolved
Recently I lend money to one of junior of college as he was in need of 20k and he promised to return the same in one month and it's been almost three months now and he has been not answering calls or texts anymore and I found he has been doing this other people aswell and only thing I have is transaction I made and other chats and I don't even have his address is there any help I could get I am not interested in getting back my money but people like him should learn a lesson anything to do will be very much helpful

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Quick Summary

If you've lent money and are struggling to get it back, especially if the borrower has disappeared, you have a few avenues to explore. You can file a complaint for cheating and breach of trust with the local police, providing any evidence you have like transaction details and chat logs. Even if you don't have a full address, the police can often trace the individual using their phone number. While recovering the money might be difficult, especially if given in cash without proof, the focus can be on ensuring the person learns a lesson for their dishonest behaviour.

T. Kalaiselvan, Advocate (Expert) 15 October 2024
You can lodge a complaint for cheating and breach of trust with local police, if you don't have his address then you can give his phone number, the police will take care.

Sudhir Kumar, Advocate (Expert) 16 October 2024
You can move as advised above

but

Money given to friends and relatives is always a charity in the garb of loan which is given in expectation of refund but always taken with intention of non-refund.

Such loan is taken by a person:-

Who lacks business sence and cannot raise funds out of his own business and suddenly wants to be rich.

who cannot raise bank loan because :-

Either

he himself is not creditworthy

Or

the purpose for which he seeks loan is illegal

or

the purpose for which he seeks loan is not at all commercially viable.

Who knows he can afford not to refund.
Who trusts his thick skin
Who intends not to refund
Who has made fortification against action of refund.

So he has to find someone who can part with his money. SO he finds a lender near him (friend or relative)

Such loans are given by the persons :-

Who has surplus money.
Who displays and boasts of such surplus money.
Who stupidly believe that there will be a refund.
Fails to realise as to why he alone (not bank) is being contacted for loan.
Who has extreme trust on the debtor
who are either stupid or extremely greedy of the unusual (or illegal) rate of interest.

Such loans are always given

Without documentation.
Without witness
Without guarantor.

Business started by such money (easy money belonging to other) invariably fails.

Such loans always sink and not refunded.

Dr. J C Vashista (Expert) 16 October 2024
Whether you have transferred the amount of Rs. 20,000/- through Bank or advanced in cash ?
If you gave it in cash and no receipt / acknowledgement, it will be very difficult to prove, if you opted for legal course to recover.
It is better to continue pressure on the borrower and settle amicably or forget it.

Bhaskar Chinthalapally (Querist) 16 October 2024
I have sent it through UPI and now it's not the case of the getting the money back.I need him to learn a lesson as he has been doing the same with many people aswell.And he is using people's trust as a bait.and I was not greedy for higher returns or something just helped thinking he had a genuine problem but now I found that all that was bluff I can't digest it .

T. Kalaiselvan, Advocate (Expert) 16 October 2024
You issue a legal demand notice to him or lodge a criminal complaint against him with local police.

kavksatyanarayana (Expert) 16 October 2024
You gave him money through UPI. With this evidence, you shall make a complaint at the police station against him, as advised by the experts.

Bhaskar Chinthalapally (Querist) 17 October 2024
Now I got his address through his number but the sim is in his father's name and he is too far away from my place.So how can issue a legal demand notice to his address?
Thanks for all the replies till now.

T. Kalaiselvan, Advocate (Expert) 17 October 2024
If you are not having his address then you can send the notice through whats app too.
You can consult an advocate in the local on all such further issues

P. Venu (Expert) 17 October 2024
Fact's posted suggest the dispute to be civil than criminal nature. Given the small amount, civil remedies are not worth pursuing. However, you have option to issue a Legal Notice and/or to approach the Legal Services Authority.

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