Joseph (Transportation Coordinator) 13 March 2013

Recovery of loan made to

I have provided an unsecured loan to a private limited company (in which I am a shareholder), and the duration of the loan has expired in December 2012.

I have not received the loan amount nor the interest due for the last period.

The managing director (and Chairman of the company) had initially emailed that the monies would be returned, however for the last two months there is no correspondence.

How do I go about recovery of the loan amount and the interest ?

Reply Follow

1 Replies

Advocate M.Bhadra 13 March 2013

Institute of debt recovery suit U/o XXXII Civil Procedure Code are based
upon this guide line define in this section/under order as under.

FILING OF MONEY/ SUMMARY SUITS:-
A suit, to which this order applies, may if the plaintiff desires to
proceed hereunder, be instituted by presenting a plaint which shall
contain-

a specific averment to the effect that the suit is filed under this order:
that no relief, which does not fall with in the ambit of this rule, has been claimed in the plaint: and
the following inscriptttion,
immediately below the number of the suit in the title of the suit
namely-“(U/o XXXVII of the code of Civil procedure , 1908)

SUMMARY PROCEDURE

COURT AND CLASSES OF SIUTS TO WHICH THE ORDER IS TO APPLY-

1.
This order shall apply to the following courts, namely

(a) High courts, city civil Courts and courts of small cause.

(b) other
courts: provided that in respect of the court s referred to in clause
(b), the high Court may, by notification in the official gazette,
restrict the operation of this order only to such categories suits as
it deems proper, and may also, from time to time, as the circumstances,
of the case may require, by subsequent notification on the official
gazette, further restrict, enlarge or vary, the categories of suits to
be brought under the operation of this order as it deems proper.

2. Subject to the provisions of Sub Rules (1), the order applies to the following classes of suits namely-

(a) suits upon will 0f exchange, Hundies and promissory notes:

(b)suits
in which the plaintiff seeks only to recover a debt or liquidated
demand in money payable by the defendant, with or without interest,
arising- (i) on a written contract, or

(ii) on an enactment, where the sum sought to be
recovered is a fixed sum of money or in the nature of the debt other
then a penalty: or

(iii) on a guarantee, where the claim against the
principal is in respect of a debt or liquidated demand only.