Money Recovery paid to sibling on good faith

As you do not seem to have obtained any promissory note or other written acknowledgement  from your friend you cannot approach  court to recover the amount. I suggest that you talk to your friend in the presence of another and if possible record the conversation on your mobile or other device which can be used as evidence in court to prove the debt. The trick may work.

Mr P. Venu don't jump on the conclusion without knowing the background you folks are reputed n respected ppl maintain that decorum...don't comment on baseless a ligation like hapless person n all.. WHT we are going thru by losing our entire 40yrs retirement money we only know

It will be prudent to consult a practicing advocate immediately in your own interest. 

Sivaramaprasad sir.. All the documents are more than 3years unfortunately.. So u mean everything we have in hand is piece of paper sir "it's so heartbreaking"

Yes Madam! Unfortunately, based on the facts given by you, if the documents completed three years, no action in Court can be initiated as the papers are time-barred. There are a few exceptions to the rule of limitation, which are very difficult to prove and establish.  You may approach a local able and reliable Lawyer and with the available documents and seek guidance for exploring the possibility of finding an exception that can be used to file a suit, duly convincing the Court that the limitation is extended to that extent. Even if the other person has paid any partial amount to you, whether such payment is made with a covering letter stating that partial amount is paid. If such a letter is there, you may show the same also to the Lawyer for exploring the possibility of whether such document can be used as an Acknowledgement of Debt and which thereby extends the limitation for a further period of three years.

 

All the best to you Madam.

 

 

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 :-

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.

 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 (friend 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 debtor
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.

Such loans always sink and not refunded.
 

MV Gupta thank you for your advice we did exactly like you mentioned yesterday with family members... But to my surprise their behavior itself changed so much.. Felt very heartbreaking how ppl change over time and money can make or break relations
Both of us weeped thru the weekend and we are not very far from any cardiac arrest.. Guilt is killing us at age..!