Recovery of Money
Anand R
(Querist) 03 June 2017
This query is : Resolved
I have given about 5 lac to one person for deal. He failed to provide me product as per our deal. Now when i asked for refund he always request for some time but he never refunded my money as per commitment. He never denied for refund but also not refunded yet.
My question is what are the best legal way to recover my money? I have transferred money in his bank account by internet banking and i also have all proofs of coversations in the form of SMS messages, WhatsApp messages and recorded phone calls.
Advocate Bhartesh goyal
(Expert) 03 June 2017
You have to file a civil suit for recovery of money against that person.
Kumar Doab
(Expert) 03 June 2017
Agreeing with Mr.Bhartesh goyal, if amicable settlement is not possible, recourse is thru court of law.
Rajendra K Goyal
(Expert) 04 June 2017
Are you having any agreement regarding his product etc.
You can try to receive post dated cheques for your money.
If he does not agree, regular civil suit for recovery need to be filed.
Sri Vijayan.A
(Expert) 04 June 2017
Recovering money is based on the terms and conditions of the deal that you had with him.
Who is the reason for failure of the deal?
(Yourself or himself), If you initiate legal proceedings, he may say that the failure is due to yourself, you have not co-operated, not co-ordinated, not gave the money in time. Ensure such circumstance may not arise, be prepared to get posed of these type of reactions by him and be ready with answers.
How much he has to return or refund to you?
If failure is on his part, how much he has to refund (Full or partial)
What is the penalty?
For all these questions, consult a local good learned lawyer who is proficient on money recovery matters.
Get his advice and act accordingly.
A. Sri Vijayan
94440 48547
ADV-JEEVAN PATIL, MUMBAI
(Expert) 06 June 2017
1) serve legal notice first giving deadline for return of money
2) file recovery suit
