Money lended to friends
Bala
(Querist) 11 June 2010
This query is : Resolved
Hi,
I am Balaji, 5 to 6 years back my grandfather lended money to 4 of his friends for their emergency needs. He took pronote from those people and lended money. In initial days they where paying back interest properly. later on they are saying we will give in a month or when the arrear comes they will give, for the past 3+ years they are not paying back any interest or pricipal.
My grandfather expired in 2008.
Please let me know how can i proceed further to claim my money legally.
Regards
Balaji TJ
B K Raghavendra Rao
(Expert) 11 June 2010
Does not your grandfather have first line successors like wife and children? If they are alive, you cannot claim recovery of the money due to your grandfather. Otherwise, you may claim. The limitation period is over. You should make claims within three years from the date of last date of transaction or admission of liability.
Bala
(Querist) 14 June 2010
Hi ragavendra,
thank you very much for your reply
First line successors are there, please let me know the procedure, will make them to claim. If the limitation period is over then what is the next process? Is there any way to claim the amount?
can you please reply asap...
Regards
Balaji TJ
