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Ramesh Gaikwad   02 November 2020

recovery of money

my 1.5 lack rupees give an man with 5% interest for six month but before that he change his address and phone no so what to do for recovery of that monay


 3 Replies

Subhasri Chatterjee   02 November 2020


The first step in the process of money recovery in your matter will be to lodge a police complaint to find the whereabouts of the defaulter and register a case of fraud against him. If you come to the address of the defaulter, you mays a legal notice to the defaulter. If you still don’t receive the payment, you can go for one of these options; Summary Suits, Negotiable Instruments Act, Criminal case or Insolvency and Bankruptcy Code.

The different means to recover your money are listed as follows:

Send A Legal Notice
Once a defaulter receives the notice, he or she has 15 days to return the money. In which a complaint is registered with the court, or one can file an FIR with the police.

Summary Suits
The quickest way to recover money will be ‘Order 37’ of the Civil Procedure Code, with Summary Suits, as it is based on written statements and it will speed up court proceedings.

Negotiable Instruments Act
Under this act, there are provisions to recover debt or money for instruments like cheques, bills of exchange, etc.

Criminal Case
A criminal case can be filed against the defaulter for recovering the debt under the Indian Penal Code, 1860.

Insolvency And Bankruptcy Code
A case for insolvency for debt collection will be submitted to the adjudicating authority. The plea should be either accepted or rejected within 14 days.

Hope this answer helps you.

Best regards,

Subhasri Chatterjee

Pradipta Nath (Advocate)     02 November 2020

Find his address and sue him under 420 and 406 IPC in criminal court. Aside file money recovery suit against him in civil court.

Suri.Sravan Kumar (senior)     03 November 2020

first you have to find out his correct address without which you cannot take any  appropriate legal action.

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