29 October 2020
Dear gentlemen May I request you to give your advice for my problem. I am working in Saudi Arabia since 2007 and my family was also living with me in KSA. In April 2018 I left the kingdom on final exit with my family and settled in Davanagere karnataka.and in the same year. After a month I joined another company and staying alone. And my family is in India. Since 2008 my father in law (wife’s father) taken money from me till 2013 .In fact he is running illegal real estate business. He promised my wife that he will give some properties from his business I have given 1.06 crores through bank and 65 lakhs by cash .He invested this money and made lot of money and properties But he has given properties worth of Rs 125700 and Rs 174500 then he made all properties in his son’s name. Still he has to pay me Rs 15668500 plus interest or the properties worth of my balance money and interest. Recently I came to know that he has made properties within his family transferred all the properties in his son’s name he has taken release deed from my wife and her 4 sisters. The issues 1) Out of 2 properties one property is in litigation. A land measures 2.05 acres is encroached by another person and I have left with less than 1 acre. My father in law is not ready to resolve the issue as per sales deed. 2) I have to recover my money worth of 1.06 crores which I have given officially through bank from my wife’s NRE account. I have the following issues As we were living in Saudi Arabia as residents up to April 2018. I believe cause of action or limitation starts from April 2018 – correct me if I am wrong. I have approached him several times but he never cares about my wife’s words I have no contact with him since 15 years. All the transactions happened through my wife. I want to know whether the limitation is over or is it effective from April 2018. Could you please help me with this issue and suggest a good advocate for me
30 October 2020
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 :-
he himself is not creditworthy
the purpose for which he seeks loan is illegal
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 (fiend 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 debor 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.