My father has given loan to his friends in the past 2-3 years on interest. He has taken a promissory note against the same having the signature of the person on a Rs 1/- revenue stamp. The witnesses are not present on the note presently. All the transactions such as interest payement, loan payment was done in cash.
He died 4-5 months back in April 2012 and now it is becoming difficult to recover the loan. The people are not denying to pay back but are delaying the payment by giving vague reasons.
1) Is there any way to recover the amount through the promissory note. For some people he has taken a blank cheque as well with NO date on it.
2) Is there any specific period before which I need to take legal action against the borrowers. what are the steps involved in filing the case i.e. how should i go about it,How much amount and effort would be required to take legal action.
3) As I am currently working in Delhi and the loan was given in A.P.; can I file a legal case in delhi to avoid travelling. My mother still stays in A.P. alone but she has health issues and it would be difficult for her to travel to the court.
Thanks in Advance!