B K Paruchuri (PO) 12 February 2022
Advocate Bhartesh goyal (advocate) 12 February 2022
Terms and conditions of sale agreement needs to be looked into for correct and proper opinion. Better consult to local lawyer for further action.
SHIRISH PAWAR, 7738990900 (Advocate) 12 February 2022
Yes, after scruitinizing agreement papers one can decide the course of action against the seller. So visit local advocate and show him the agreement and based on terms and conditions decide the legal action.
Anaita Vas 12 February 2022
Respected BK Paruchuri,
Some of the legal actions that can be taken if someone isn't returning your money are: The creditor must only loan money after executing a promissory note or a loan contract that states clearly the rules and circumstances. If the borrower fails to pay the debt, the creditor can go to court and file a civil claim for financial recovery or a criminal complaint about deception or breach of contract.
You can file a civil suit. A civil lawsuit might be filed by the creditor to reclaim the amount owed to him under a promissory note or loan arrangement. He has the authority to do so under CPC Order 37, which authorizes the creditor to initiate a summary suit. This complaint can be filed in any high court, city civil court, magistrate court, or small claims court. This complaint contains an important statement specifying the particular remedy sought by the creditor, and that the relief must not exceed the scope of the decision as to the ultimate remedy. The first stage is to create a summary suit, which should then be served on the individual who borrowed the money. Along with the plain copy and summons, the court requires a specific document to be produced before them. Following the filing of the lawsuit, the defendant will be required to show up in court within 10 days. If the individual fails to attend, the creditor must present the court the summons he previously issued, and the court will instruct him to issue another summons. If the person has any defenses, he can assert them in court; if not, the court will take the lender's accusation as genuine and award the judgment as to such.
Under the Negotiable Instruments Act, the creditor can also initiate a lawsuit. This can only be submitted by those who haven't paid back money borrowed from a creditor by checks, bills of exchange, or other means. For example, if a person returns money to a creditor through a check and then discovers that the check has bounced, the lender can initiate a suit under Section 138 of the NI Act, requiring the debtor to reimburse within 30 days. If the borrower defaults, the creditor has the option of filing a criminal complaint against him. If the court finds him convicted, he will be sentenced to two years in imprisonment and must pay double the value of the check.
You can also file a criminal case. The creditor must show that the borrower committed a criminal act of faith and did not repay the funds. So he can file a complaint under Sec 420 of the IPC, alleging that the individual to whom he had to lend money had defrauded him, as well as under Sec 406 of the IPC, alleging a criminal violation, and if the court deems the person guilty, he will be jailed and must restore the money he borrowed. In general, cases brought under this section require a lengthy time to be heard by the court.
The last thing you can do is go for an out-of-court settlement. The creditor may choose to reclaim money dues outside of court through arbitration, conciliation, or Lok Adalat. It is one of the most cost-effective and time-efficient methods of recovery. For an out-of-court settlement, both parties must be willing to attend the hearing. In most cases, the arbitrators will hear from both sides before making a decision. They cannot appeal once the award is made, provided the award is invalid or the person is unable to repay within the stipulated time frame.