Case file on Insolvent
bhawnaarora
(Querist) 20 January 2015
This query is : Resolved
Respected Experts
I m Bhawna...abt 7 years back I have given a friendly loan of Rs 70K to the husband of my friend with promise to return in 6 months. Later I come to know that he is get downfall and he has to give abt 15 L in the market and he is unable to repay. Somewhere he has placed his blank cheques, affidavits and bank loans too. To come out all this problem with consultation with advocate he declared his firm insolvent and included my name too..to whom he has to give the payment. He declared that he not any property , bank balance to repay. I did not receive any summon . I called my friend for payment she assured me that this insolvency declarance will not effect our terms I will repay after some time . I was listed in the court as her has band has to repay of Rs 70000 to me but after getting assurance from my friend I had not attend the court. After 2-3 years he declared as insolvent. I contacted to my friend tlfor payment and every time she assured me that till time they are in the crises but I will repay definitely. After long 7 years now I come to know they are in the good position naught shop of 8 lacs car a.c and other house hold costly items. Now she have naught the house in her name and looking for loan from the bank. After knowing all I called to my friend to repay of 70 k loan ...she clearly refused with wrong language and put off the phone....I went to her house but she clearly said NO and started abusing . Now my query is can I file any case against her or her husband to recover the amt or guide me any mean thru court...I HV nothing in writing but he himself has given writing that he has taken the friendly loan from me
Anirudh
(Expert) 21 January 2015
NOW, YOU CANNOT DO ANYTHING.
YOU HAVE TO FORGET THE AMOUNT GIVEN BY YOU, ONCE AND FOR ALL.
Guest
(Expert) 21 January 2015
Dear Author,Better you Consult the Local Good Advocate with all documents and Seek the Best Possiblities for Recovery of your amount.
Rajendra K Goyal
(Expert) 21 January 2015
Legally you are on very weak standing for your claim. The claim is time barred, the person is insolvent, you did not followed your claim during insolvency proceedings etc.
Proceeding legally with weak legal footing not recommended as the process is time and cost consuming. Hope they would repay your money later on after some years.
Satya Mani Tiwari
(Expert) 22 January 2015
Dear Bhawna ji,
Its a matter in which only civil suit is posssible with the evidence of his writng that he has taken a friendly loan from you on record.
As at the time of giving/taking loan it was mutual agreement which is a civil matter as at that time it was with no criminal intention/Commission, crminal misapropiation was not committed hence no criminal case can be registered.
Biswanath Roy
(Expert) 24 January 2015
Serve a legal notice upon the borrower demanding your accommodation loan although the recovery period is time barred and may contact me again either in this portal or through my e-mail :-bnroy.advocate@gmail.com
T. Kalaiselvan, Advocate
(Expert) 24 January 2015
Your claim is barred by limitation. If at all you would wish to proceed legally on some misguidance, you may be waging a lost war, you will be losing your money, time and energy etc too. As you had waited for seven years, you wait for some more time, if it comes back fine or forget it have a nice sleep.
