Lent money to a friend but hasn't returned the entire sum
Nitya
(Querist) 23 July 2013
This query is : Resolved
I had loaned a sum of 4.7 lakhs in 2011 to a friend who requested for the amount to pay for his loaned house. Initially he transferred a sum of 1000 pounds to my dad's account but after that he hasn't paid anything and he refuses to acknowledge my calls.I lodged a complaint with the police station . My complaint doesn't state the fact he has returned the amount and I have stated he hasn't returned the entire sum . I had given 64 grams of gold as well. The police and I visited his house and his relatives were informed of the situation . They replied they will call him as he is in london and would not return any sooner. The relative called me evening and asked me to withdraw the case and that my money will be returned in 2- 3 years span of time as he is presently jobless in london but in my opinion he had money to invite his mother to london when he's jobless?! I can't rely on him . Should i withdraw the complaint and re-issue a new complaint stating he had returned some money initially or should I go ahead with the present complaint.
Dr. Jyothi Vishwanath
(Expert) 23 July 2013
Don't withdraw the complaint. Proceed with the present complaint. A criminal case pending against him will make him return your money earlier. Do you have any documents for proving the loan?? If yes, you can also file suit for recovery of money against him which will attract huge court fees.
Nitya
(Querist) 23 July 2013
I don't have any evidence of his house loan but I do have evidence of transferring the amount to his mother's account. He was a friend so now he's stating that when I visited london in 2012 he spent little on my expenses and he's trying to reduce the amount to be paid.The police official has stated that we will enquire when his mother returns during november ....
manoj joshi
(Expert) 23 July 2013
u can request him to issue a cheque of remaining amount with due respect and politely than and thereafter u can sue him case under negotiable instrument act
it will work
Sudhir Kumar, Advocate
(Expert) 24 July 2013
I agree with Mr Manoj joshi.
I would add that Police has no powers to recover your debt. They are simply going with you on greed of extorting something from him as they consider him to be NRI.
Loans given to friends/relatives/brother/sisters/uncles/aunts/nephew/niece of self and spouse are not intended to be returned and are generally never returned. You are lucky to have received partial refund.
you do not have even proof of loan yet got some refund. You cannot file any civil suit unless atleast you have proof of payment.
the only hope is that the relative who is intervening can sign a surety bond and you withdraw the complaint and then sue both of them later on when the money is not refunded in the period stipulated in bond.
Nadeem Qureshi
(Expert) 24 July 2013
settle the matter amicably if possible
malipeddi jaggarao
(Expert) 24 July 2013
Agreed with Mr.Sudhir Kumar. Police can not help as the person against whom complaint of civil nature is made is not in India. When you have transferred the money to the account of mother of your friend, you have include her in the litigation if you wish to continue the litigation. You say when you went to London he spent some money on you. Allow him to deduct from the dues and ask him to send the cheques drawn in mother's account (as you have transferred the amount to her account. It is purely dispute between friends, make an attempt to settle amicably.
Nitya
(Querist) 24 July 2013
well he had absconded for about a year and he cannot claim on my expenses because I spent on him as well. I just want the loaned sum back and the gold chain offered. I do have proof of me loaning the amount in the form of cheque details and the party's bank account details to which it was transferred and also the evidence of it getting credited in 2011. He doesn't want to talk settling amicably is next to impossible. I have received 1.2 lakhs in 2011 I just want the remaining 3.5 lakhs .. I want the money within this year .He is saying I cannot give any sooner I will give within 2-3 years which is 2015-2016.. when I loaned him the amount he said he will give it to me by 2 years verbally. ...
Dr. Jyothi Vishwanath
(Expert) 24 July 2013
What I feel, whatever you do, you will not get your money back. First question, why did you give him such a big amount without any proof. Something fishy here. If you are unmarried, tell your parents. If married, tell your husband and get some muscle power. You can only recover such money either amicably or through muscle power. Or else Admit and accept that you lost your money forever...
Nitya
(Querist) 24 July 2013
I was just helping a friend save his house from getting into foreclosure. Now if he wants to abscond because he doesn't want to repay is unfair. I will not back down until justice is served .
Sudhir Kumar, Advocate
(Expert) 24 July 2013
money given to friends and relatives of self and spouce is never a loan it is a charity.
You are lucky you got something back.
Remaining amount you are not getting.
Sudhir Kumar, Advocate
(Expert) 24 July 2013
Mr Nadeem Qureshi has advised that settle matter amicably that is the only way.
Raj Kumar Makkad
(Expert) 30 July 2013
You have adequately been advised by experts.
