visuiyer (Mentor) 18 January 2022

Debt recovery

I have paid Rs.5 lacs by NEFT as loan for a short term of 3 months; the borrower fails to pay me back the amount even after six months. I was at patience with soft words all the time. when I try to call the borrower, he fails to respond and block my telephone number.

He has not signed pro note or anything since it is being a short term for (within) three months. I have paid the amount through Bank NEFT .

The borrower is the seller who sold me a property some time ago. there is no relation to property and this loan. He borrowed this loan for short term, and I have accomodated his request since known to me as a seller..

I smell that his intention i snot to honour the promise of returning back the borrowed loan.

Should I file a case in consumer court? or any legal notice is to be sent and file civil case. Vetreans, please advise, If I get legal service in issuing notice etc, I shall be much thankful .

I am a Senior Citizen please help me..

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4 Replies

Megha 18 January 2022

Hi,

Pending dues can be a pain point for everyone; more so when the borrower shows minimal or no signs of repayment.

If the borrower fails to repay theloan despite repeated reminders, threats and negotiations you may adopt the following remedies:

Civil Remedy - This is the most common formof remedy available to an aggreived creditor. You may file a summary suit for recovery under Order 37of the Civil Procedure Code, 1908 (CPC). This is speedy mechanism for recovery of dues since the debtor is given only 10 days' time to revert to the notice and must alsosatisfactorily prove to the court about his inability to pay the dues. Failure to appear before the court shall result in an ex-parte order in favor of the creditor.
Criminal remedy - You can also consider filing a case under section 406 of the Indian Penal Code, 1860 (IPC) for criminal breach of trust along with section 417 for cheating and section 420 for dishoestly inducing delivery of the property ie money. Howver, please note that the resolution under criminal remedy will take a longer time as compared to filing a summary suit.

Best regards,
Megha

Real Soul.... (LEGAL) 19 January 2022

Dear you have no proof that he borrowed money from you, just NEFT trabnsaction means even you paid a loan u had borrowed so forget about goiing to courts you will lose on everycorner as you have no proof at all.

You should try socail pressure by frequent vists to home and take few freinds with you or common friends . It is aal about morals now...

visuiyer (Mentor) 19 January 2022

even you paid a loan u had borrowed so forget about goiing to courts you will lose on everycorner as you have no proof at all. /// thank u. ji.. but I have borrowed any money and there is no proof of transaction to say that it was borrowed by me.. therefore, you comment of suggestion is applicable at any where. Moreover, Debtor even cannot say it is for the service, because no service has been availed from him by me.

Even if he proves with false bills and information, He is not GST complinant. Therefore He will be caught in GST proving the tax evasion.

Thus forgetting Rs.5 lacs is indisgestable, and this case cannot be set aside.

thanks for the guide, and invite more comments from vetrans to thro light on this.

Advocate Bhartesh goyal (advocate) 19 January 2022

Loan transaction is through NEFT which need not to prove further so get issued a legal notice for demand through lawyer and if he does not respond then file suit for recovery of due amount.These days such type of cases are decided within one or two years