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Md Ahmed (Private Employee )     19 June 2024

Personal loan amount invested in friends account, and got cheated

I took loans of 30 lakhs from multiple banks amd invested in my friends account, after few months my friend absconded with my money and switched off mobile phone, since last teo month i tried everything and paid the emis of 5x than my salary now i dont have a single penny to pay the next months emi am getting afraid how can i manage banks and loan recovery agents please suggest


 6 Replies

Real Soul.... (LEGAL)     19 June 2024

You must file FIR againt him, just collect the proof shaiwng you invested in his account. That is only way you can give justifications to banks for some time to pay the amount.It may help but you have to pay to Banks anyways

T. Kalaiselvan, Advocate (Advocate)     19 June 2024

You issue a legal notice  to your friend demanding return of the amount lent to him failing which you can initiate money recovery suit besides giving a criminal complaint for cheating offence against him in the local police

Advocate Bhartesh goyal (advocate)     19 June 2024

No case of cheating is made out as you have lent money to your friend voluntarily . Issue notice to your friend and ask him to return loan amount with interest failing which you may file suit for recovery of money against him.

P. Venu (Advocate)     19 June 2024

Yes, you may file a suit for recovery.

Dr. J C Vashista (Advocate )     20 June 2024

File a recovery suit through a local prudent lawyer.

Sudhir Kumar, Advocate (Advocate)     21 June 2024

Prima-facie the deal appears shady. it is suprise :-

  1. why should someone be taking personal load to invest in saving account. Personal loan is crash contigency. the interst i alway much more than someone may be getting in deposit in aother account.
  2. If at all you took loan then why not deposited in own account.



You are reaping what you have sown.


chnces of recovery from friend are remote.  Even in civil suit you have to prove that he was unde obligation to return.


recovery if EMI from you is sure and certin so keep paying.

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