Mahesh Babu 10 March 2023

Not repaying interest

Greetings,

I transfered 115000 rupees online to my colleague on 21 dec 2022. For which he agreed to payback in 2 days a total of 230000 ruppes(including 125000 as interest) verbally. He returned 110000 within 6 days but is now refusing to pay remaining amount till date. I have now got chat proofs that he owes me 125000 rupees in total. He says that he is trying everyday to repay, but I am sure that he has an bad intention to not payback. Money was given on the basis of trust and no written agreeement was taken. What are my options here.

A quick response would be appreciated.

Thank you!

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4 Replies

Advocate Bhartesh goyal (advocate) 10 March 2023

If you have cogent proof of lending money to your colleague then you may file money recovery suit against him else forget it.

anubhav Bhatt 10 March 2023

Dear Client, In that situation, your case is strong actually you paid via online for more clarification you may contact us then I'll explain properly about your case.
Advocate Anurag Bhatt
Allahabad High Court
Mobile 9198889990

T. Kalaiselvan, Advocate (Advocate) 10 March 2023

The interest you are charging towards the principal is very exorbitant and not tenable in law.

The chat messages or oral agreement for the interest portion cannot be enforced in court of law.

An amount of Rs. 12500 cahrged towards interest for an amount of Rs. 1,15,000 and that too for two days alone is neither justified nor your claim will be entertained by court .

Besides he has repaid the major portion of the principal amount within 6 days of borrowing the amount, so any claim that you propose to make through court of law will incur you additional expenses but you will not get any relief, hence you better try to get back whatever he pays and do not lend to anyone in future especially do not become greedy to earn quick bucks which will prove fatal to your own program.