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visuiyer (Mentor)     25 December 2021

Loan recovery

I have given to a friend Rs.5 lacs on loan, without any interest (by NEFT transfer to his bank account); He promised to give back in 3 months..

it is more than 6 months now; who could not re-pay; even in instalments.

Can I sue him before court of law (I have the proof of payment NEFT transfer to his bank acoc*nt, which he cannot deny but no promisory note has been collected)


 3 Replies

Dr J C Vashista (Advocate)     26 December 2021

Settle the matter amicably, otherwise, issue legal demand notice and file a suit for recovery through a local prudent lawyer.

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     26 December 2021

Rs.5.00 lakhs is too large a sum. First have a person to person talk with you friend and find out the real reason for not paying you the amount he had taken as a debt. If he is in a position to pay but not paying you may involve common friends to resolve the issue. If persuasion through friends fail, the final option is to file a case for recovery of the amount with full details and particulars as available with you.

Archana Pandey   03 February 2022

Dear Mr. Visuiyer, 

If you know that he is not willing to repay amount and doing all intentional, you can file a suit under Section 420 IPC of cheating to him. Also, you may file along with Sec 406 of Criminal beach. 

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