Legal Issues / Debts & Recovery

How to Recover 4.5 Lac Rupees Loan From Friend ?

How to Recover 4.5 Lac Rupees Loan From Friend ?

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  2031      24/07/2014

Question - 

I have given Rs 4.5 lacs to one of my friends. Now he is not able to return. What legal paper should be done between us so that I feel mentally free.

 -Nirjesh

 

Expert Advice

Dear Nirjesh, on the assumption that you would have given this much amount of money through cheque I would advise you to file summary suit for recovery of that amount.

In case you have not given him cash by depositing this amount in your friend's account you can take recourse to same remedy.

If you have given this money in cash in his hand then you must have some document to show that your friend has taken that money from you. Remedy in this case is also same but debt should not be time barred.

- Advocate Ratnesh Shukla




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