Borrowed money
MUKUL SHARMA
(Querist) 27 October 2013
This query is : Resolved
I gave some money (in cash) to a person for his personal need,but I didn't take any thing in written from him(cheque, promissory note,or any other instrument).Is there any way in Law to recover the money? if I file complaint u/s 190 Cr.P.C.(406 IPC) with two eyewitnesses affidavit than what is the possibility to recover money?
prabhakar singh
(Expert) 27 October 2013
What you did was a risky venture and your bet was on honesty.
What you wish to do is another risky venture
and your bet would be proof.
Lending him took your ten minutes.
Realisation suit may take many years.
In addition you would cough out around 40%
more.
What would happen i am not sure.
Advocate M.Bhadra
(Expert) 27 October 2013
No, you can not take recourse of laws,but you can try to create social pressure by sending friends and relatives.
ajay sethi
(Expert) 27 October 2013
how did you give money ? by cash or cheque?
Rajendra K Goyal
(Expert) 27 October 2013
Agree with the expert prabhakar singh ji, legal recourse may cost you considerably financially and by time also with difficult chances to prove your claim. Recovery would be more difficult even if decided in your favor chances of which are not enough.
bhagwat patil
(Expert) 27 October 2013
Is there any way in Law to recover the money? There no way in any legal system without evidence.even if concrete proof is there it takes decades together to get the decree and another decades to execute the same.
ajay sethi
(Expert) 27 October 2013
you have not mentioned whether you advanced money by cash or cheque . you did not take any receipt from the borrower . he has not executed any document acknowledging liability to repay the said amount . chances of recovery are bleak
V R SHROFF
(Expert) 27 October 2013
u may issue legal notice to keep it in record. Circumstantial evidence may help u to prove, u paid him.
Though chances are very less, and you lose on time, money and harassment to yourself, it is your choice. One who seek help from Law must also execute legal document at the time of dealing.
Ms.Nirmala P.Rao
(Expert) 27 October 2013
First send a Legal notice through your lawyer and they would come up with some reply. If you've some evidence even if oral such as witness evidence etc, you'll have a chance of recovering the money lent.
malipeddi jaggarao
(Expert) 29 October 2013
It all depends on the amount involved. If it is paltry, issue legal notice and forget if there is no response. If it is big, you can search for circumstantial evidence. Anyway it would prove costly and time consuming. Involve common friends to impress upon your friend to pay you back.
