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Senthil kumar (Recruitment)     12 January 2015

Legal notice ,who is absconding o pay the loan

One of my known person borrowed about Rs.10,000 on 2010,whenever i call him, he tells the stories of his inability and family issues and assures to pay the amount...

 

it is been about 5 years  he is absconding till now and not picking the call.

 

I am at bangalore and he is at chennai.

 

is there a possibility of sending a legal notice to him? if  so what will be the cost of legal notice?



Learning

 2 Replies

malipeddi jaggarao (retired banker)     12 January 2015

The debt is time-barred.  The limitation expires on completion of three years from the date of debt, unless the debtor acknowledges the debt in writing.  You do not have any legal remedy except recovering by pursuation. 

venkatesh Rao (Retired Government Servant)     14 January 2015

Well advised. It is his morality and not the law that can help you.


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