Recovery of money in good faith from known person
Rajendra
(Querist) 26 March 2013
This query is : Resolved
I have given a sum of Rs. 1,50,000/- (Rupees One Lac Fifth Thousand Only) by account payee cheque to one kwon person on 01/03/2013 with a verbal promise to return it back within a week time; he then deposited the same in to his bank account and amount was debited from bank account on 04/03/2013.
As per his verbal commitment he was to return it back on or before 08/03/2013; but he failed to do so; he then keep on promising that in a day two he will rerun the fund, I have some sms confirmation too. Now he is not reverting to my calls and sms. In this case how to proceed for the recovery? And how to keep record of all sms sent to him and received from in blackberry device.
Thanking you in anticipation,
RAJENDRA PATEL
ajay sethi
(Expert) 26 March 2013
how can you advance Rs 1,50,000 on mere verbal commitment . if tomorrow he refuses to pay and you take legal proceedings he will say it was a gift not a loan .issue him a legal notice .
Advocate Bhartesh goyal
(Expert) 27 March 2013
Send him a legal notice and if he does not compliance with notice then file suit for recovery of money.
V R SHROFF
(Expert) 27 March 2013
Personally contact, and get a Pro note signed. Also demand a cheque . If u get, fine, If you fails, act as advised by above experts. Keep Witnesses, recording , on meeting.
If he promises, [say gold, or property] and not delivered after receiving your money, it amt to cheating ,
So can lodge police complaint under 420 & ors sec.
Raj Kumar Makkad
(Expert) 28 March 2013
I fully endorse the advice of Shroff on this subject. Be practical.
Sudhir Kumar, Advocate
(Expert) 28 March 2013
not an easy sail for you.
You have not stated how the transaction was arranged. How the person is related to you.
