Borrowed cash and delaying

Subject to the detailed facts in your instance, you may be entitled to insitute a suit for recovery under Order 37 of the CPC, treating the case as a summary suit arising from a promissory note. Have a notice for recovery served upon your so-called friend. 

A lot will depend on the terms set out in the stamp paper you've referred to and, to an extent to the stamp duty paid by you.

Btw, from what you've posted, it appears that this friend of yours never intended to return your money in the first place...sry.

meet a lawyer with papers.

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:-

 

1. Who lacks business sense and cannot raise funds out of his own business and suddenly wants to be rich.

 

1. who cannot raise bank loan because :-

 

Either

he himself is not creditworthy

 

Or

 the purpose for which he seeks loan is illegal

 

or

the purpose for which he seeks loan is not at all commercially viable.

 

1.  Who knows he can afford not to refund.
2. Who trusts his thick skin
3. Who intends not to refund
4. 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 (friend or relative)

 

Such loans are given by the persons :-

 

1. Who has surplus money.
2. Who displays and boasts of such surplus money.
3. Who stupidly believe that there will be a refund.
4. Fails to realise as to why he alone (not bank) is being contacted for loan.
5. Who has extreme trust on the debtor
6. who are either stupid or extremely greedy of the unusual (or illegal) rate of interest.

 

Such loans are always given

 

1. Without documentation.
2. Without witness
3. Without guarantor.
4. During cordial relations

 

Soon after giving such loan :-

 

1. Relations are no more remain cordial
2. Business started by such money  (easy money belonging to other) invariably fails.
3. Such loans always sink and not refunded.
4. Person seeking such refund suffers at legal process.
5. Person seeking such refund legally or by persualtion is socially criticised.

 

 

Thanks for the replies. Actually that guy is having property in the form of land, so he has the capability to return the money back. But he does not have the mindset to return as he lost the complete money in business. I think I can legally proceed to get back the money. But is there any situation things can go wrong? As of now i have only the stamp paper, is there anything else i can take from him (like blank cheque) to make my things easier. As of now he will support me, because he thinks i will not take any legal action. So this is the time i can get any proof from him.