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seema sharma ( manager)     07 May 2013

expense on lawyer's fee recoverable.

Sir. I am for a cooperative society.we have to file cases for defaulters.can the money spent on lawyer's fee recoverable and what should be the entry for it in account books. Pls guide.


 3 Replies

Maulik Jani (Law Officer)     07 May 2013

Yes - you can recovered such Fees from Defaulter.

 

Once it has been prove in the Court then you can easily recover such amt.

 

Generally all are putting such clause in the Notice forwarded to Defaulter but while negotiating all are concerns to recovered the principle amt.  

 

Accounting Entry :-

 

01. Prof Fees. A/c Dr.

              To Mr. ABC Advocate

 

02. Defaulter A/c Dr

             To Prof. Fees

 

03. When Amt. recovered: - ( Adv. Fees from Defaulter )

 

     Bank A/c Dr.

     ABC Adv. A/c Dr.

             To Defaulter A/c

 

Regards,

Maulik Jani

Maulik Jani (Law Officer)     07 May 2013

Yes - you can recover such Fees from Defaulter.

 

Once it has been prove in the Court then you can easily recover such amt.

 

Generally all are putting such clause in the Notice forwarded to Defaulter but while negotiating all are concerns to recovered the principle amt.  

 

Accounting Entry :-

 

01. Prof Fees. A/c Dr.

              To Mr. ABC Advocate

 

02. Defaulter A/c Dr

             To Prof. Fees

 

03. When Amt. recovered: - (Adv. Fees from Defaulter)

 

     Bank A/c Dr.

     ABC Adv. A/c Dr.

             To Defaulter A/c

Regards,

Maulik Jani.

RAKHI BUDHIRAJA ADVOCATE (LAWYER AT BUDHIRAJA & ASSOCIATES SUPREME COURT OF INDIA)     07 May 2013

I do agree with he views of my Ld. Friend.


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