debt

siddhartha pydipati (Querist) 09 November 2009 This query is : Resolved
a colleague of mine took Rs.4000 from me as debt two and half months ago.i didnt insist on writing a pro note.oral agreement to repay the same without any interest was made.as the lendor,am i entitled to demand interest on the sum he borrowed? is it legal to ask for a 10percent interest at the time of repayment without informing him beforehand?

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A V Vishal (Expert) 09 November 2009
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Sachin Bhatia (Expert) 09 November 2009
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Raj Kumar Makkad (Expert) 09 November 2009
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Khaleel Ahmed Mohammed (Expert) 10 November 2009
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