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money lended to friend but he is not paying interest

hello,

i have lended money to a friend and in return he promised to pay interest but from last 8 months he is not paying any, what should i do?
as a security i have taken chaque, promissory note, his written document of money taken from me and given me property papers.

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Quick Summary

You've lent money to a friend who promised interest but hasn't paid for eight months. While recovering the promised interest might be difficult, you have strong legal grounds to recover the principal amount. You hold a cheque, promissory note, written document, and property papers as security. You can deposit the cheque, and if it bounces, you can file a case under Section 138 of the Negotiable Instruments Act. Given the friendship and current circumstances, consider discussing the matter amicably first.

2 Replies

SHIRISH PAWAR, 7738990900 (Advocate) 14 June 2021

Hello,

You cannot recover the interest from your friend but you can recover your money on the basis of documents executed by him in your favour. You can deposit the cheque on the instruction of your friend and if the cheque returned dishonoured then you can file a complaint in court against your friend u/s. 138 of Negotiable Instruments Act.