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HEMANT (PRODUCTION ENGINEER)     07 April 2013

Lending money to friend

i had lend money to my friend at rate of interest 10% per month which he has agreed to give me per month. i had taken in writting on stamp paper that he is taking the money for his personnal use. no interest word is added on stamp paper plus i had taken the cheque without date from him.i had given money in cash.

now he is not giving me the interest nor my principal amount to me. he is always giving me excuses. i had kept all my ornaments in banks and given him the money for his emergency. i have to pay interest to my bank every month. due to his failure i think all my ornaments will go/

please help me what to do any way legally.....plz help me

 



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 2 Replies

Sudhir Kumar, Advocate (Advocate)     07 April 2013

file civil suit.  By the way interest @ 10% p.s actually 120% p.a. Isa it allowed by RBI

Sudhir Kumar, Advocate (Advocate)     07 April 2013

repeated at https://www.lawyersclubindia.com/experts/lending-money-384031.asp


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