Default in payment
Guest
(Querist) 17 July 2014
This query is : Resolved
my father has given rs5000000 to his friend.now he is not returning money.i have video recording, in which he is admitting that he has taken rs 5000000. what kind of action we can take against him? i have no other proof against him.
Guest
(Expert) 17 July 2014
Your query seems to be quite vague and false, as you as an accountant would have imagined that it would not have been possible for your father to give loan of Rs.50 Lakhs in cash without any documentary proof of huge loan.
However, if your statement is true even to the slightest extent, when your father can afford to give loan of such a huge amount of 50,00,000/-, he can also very well afford to hire services of some competent and experienceed lawyer to fight the case.
Guest
(Querist) 17 July 2014
sir i have passed my ca exam this year.i was not aware about all such things. i was in kolkata for study. my father treat his friend like his brother.mere pita ke dost ne unse paisa dhoka se liya. mere pita ke dost apne yaha citfund khelate hai. unhone mere pita ko us chifund me member banaya. chitfund jab bhi mature hota tha wo paisa dene ki jagah mere pita se wo piasa dusro ko interest par dilwa diya karte the. ab unhone chitfund ka bhi paisa rakh liya hai aur apne dwara dusre logo ko interest par jo paisa dilwaya tha wo bhi rakh liya hai.bas ye samajh lijiye sir, ki unhone apne dost par andhviswas kiya. jiski saja wo bhugat rahe hai. sir mai aaplogo ki help chahta hoo. mai lawyer se to bat karoonga hi . par usse pahle aaplogo se is bare me thodi jankari le lena chahta tha.
Devajyoti Barman
(Expert) 17 July 2014
Your father seems to have enough money so he lends half a crore without proof.
Now he can afford to wait for its return or even forget it.
ADV-JEEVAN PATIL, MUMBAI
(Expert) 17 July 2014
If ur father has paid 50 lakh as consideration u by cheqe u may recover but will be Q whether u file IT return n substantiate it
Raj Kumar Makkad
(Expert) 17 July 2014
Well advised by experts hence no more to add.
Rajendra K Goyal
(Expert) 18 July 2014
It would be difficult to prove such a heavy loan / transaction if it is in cash. Consult local lawyer.
ajay sethi
(Expert) 18 July 2014
how was money paid by cash or cheque
?
ajay sethi
(Expert) 18 July 2014
account is deleted of the querist
T. Kalaiselvan, Advocate
(Expert) 18 July 2014
It appears to be an academic query. If the amount was lent by case, was it an unaccounted money, then it will not be a legally liable debt, so no legal ways to recover.
Sudhir Kumar, Advocate
(Expert) 20 July 2014
hire a lawyer.
But money lent to friends and relatives is basically a charity in garb of loan and is never intended to be refunded.
