addcnda1 27 May 2022

legal advice

i have gave 20 lakh to my brother in law 3 years ago and he wrote a stamp paper that he will give some profit monthly and yearly will give 10 lakks but now he is not given profit as well as my money and he is given me excuses since 9 month need advice
i have a stamp paper letter from him signed buy him and one witness( his brother) and mentioned all things that i mentioned earlier
thanks

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Quick Summary

You lent your brother-in-law a significant sum of money three years ago, with a written agreement on stamp paper detailing profit sharing and repayment. He has since failed to provide any profits or return your principal for nine months, offering only excuses. Experts advise sending a formal legal notice through a lawyer to demand repayment. If this fails, the next step is to file a money recovery suit in civil court. It's crucial to act promptly to avoid potential issues with the statute of limitations.

5 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 27 May 2022

send a legal notice through a lawyer to your brother in law for money recovery. wait their reply for the notice. Even after notice if they do not pay, then proceed to file money recovery suit in a civil court nearby..

Advocate Bhartesh goyal (advocate) 27 May 2022

Yes,issue legal notice to your brother in law and demand your money if he does not comply with notice then file recovery suit against him.

Kishor Mehta (CEO) 28 May 2022

Try to settle mutually, else he may take recourse to the Law of Limitations and you may stand to lose your money.

Dr J C Vashista (Advocate) 28 May 2022

Well analysed, opined and advised by experts, I endorse the same.

Probably loan is barred by limitation and the document is inadmissible in evidence, it is better to show the document to a local prudent lawyer for proper appreciation of facts, professional advise and necessary proceeding.