cpc

money borrower refusing to pay back the taken


My father lend money of around 2 lakh from his bank to kirana shop owner nearby with only verbal agreement of paying back that cash in daily installments of like 400rs. per day . Now borrower i.e. Shop Owner is refusing to pay back those installments and my father has to pay all that money to bank. The father gave money only because he knows that shop owner for a long time and had trust on shop owner. What could be done in this situation in order to get that money back from shop owner.
 
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why it is that your father took bank loan that too on cheque and gave that amount in loan in cash
 
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senior

unless you have documentary evidence you cannot initiate any legal action against the Shop Owner. Take promissory note from the shop owner for the amount he has taken from your father.

 
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Retired Manager

Legally it's a difficult proposition to file a case and win when there are no records like pronote to prove the money given as loan etc. 

 

 
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Lawyer

Whether your father has obtained money lending licence ? No

Whether any security has been taken for the loan ? No

Any other evidence for the loan ? No

Better to forget. 

 

 
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