Legal approach to the creditor

chaitu..... (Querist) 02 March 2012 This query is : Resolved
Dear Sir,

I given credit to a person, but he invest the amount on insurance and some other investments. If i approach legally can i get the amount or it goes to nominees only??

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Adv.R.P.Chugh (Expert) 02 March 2012
You can file a suit for recovery. If the debtor fails to pay up, in execution of the same - the insurance policies/other investments can be attached and sold and money given to you. However you cannot approach the insurance company directly.

R.K Nanda (Expert) 02 March 2012

Dear Client,

File recovery suit for which time limit is
3 years,against debtor.

Please feel free, if you require more advise, then contact me on Mobile Via Path Legal.

All the Best.

R.K.NANDA - ADVOCATE
DELHI HIGH COURT & SUPREME COURT OF INDIA

ajay sethi (Expert) 02 March 2012
have you advanced money by cheque? has the debtor acknowlwdgwed receipt of money?

if so then you can file a summary suit under order XXXVII of CPC

Deepak Nair (Expert) 02 March 2012
File a summary suit under Order 37 of CPC as advised by Mr.Sethi.

Raj Kumar Makkad (Expert) 02 March 2012
I have also similar opinion as of chugh.

prabhakar singh (Expert) 04 March 2012
If you have proof of your having given loan file the suit as advised and get his investments attached.

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