My friend cheated and not returning money
Ranjeet
(Querist) 18 June 2015
This query is : Resolved
I trusted my childhood friend and given 3lakhs INR to him 3years back (June 2012) with interest rate 2% p.a. He deposited Rs. 6000/- for 6 months promptly into my Indian bank account then he stopped making any payments further and not even answering my calls or responding to emails. I live in abroad (Australia) and my friend lives in India. It became very hard for me to communicate or take any legal action against him. Initially, he has written agreement in 100 rupees bond paper to me but no postdated cheques given. I have heard agreement paper valid only for 3years from date of signed. Is that true? If agreement paper validity expires then i have only proof ‘DD Xerox copy for an amount of 3lakhs’ (This 3laksh amount has withdrawn through DD from my savings account in India). Is there any way i can lodge police complaint online or Is it possible to take any legal action against him from overseas (Australia) Or Do I need to stay in India to take legal action against him? What are the possibilities to get money back and how to teach him lesson?
Please advise.
Sudhir Kumar, Advocate
(Expert) 18 June 2015
what was the repayment schedule as per agreement?
when was the last default
Ranjeet
(Querist) 18 June 2015
Sudhir Sir,
Agreement doesn't says anything about repayment schedule but my friend mentioned, every month interest amount will be deposited into nominated bank account.
Last default was May 2013
Ranjeet
(Querist) 18 June 2015
Also, agreement says whenever i need money my friend should return full amount within 3months time including interest payable.
Sudhir Kumar, Advocate
(Expert) 18 June 2015
Money given to friends and relatives is always a charity in the garb of loan which is given in expectation of refund but always taken with intention of non-refund.
Ranjeet
(Querist) 19 June 2015
Is there any way i can lodge police complaint online or Is it possible to take any legal action against him from overseas? what are other possibilities do i have?
Expecting more answers. Please reply.
