I lent 5 lacs to a friend about 7 months back. He owns a partnership firm and I did RTGS (online money transfer) to his company's account. He would neither return my money nor would he pay any interest. There is no written agreement with him as the money was lent on good faith. Is this money gone down the drain or there are legal procedures to retrieve it? Please help.
The point is I have proof that I gave him money. I never availed any service from him or his company which he could possibly charge me for. He is very strong financially and it was money lent against interest. How could he keep my money forever and prove that he does not owe me this money?