Given loan on cash

KALPANA MOGAL NIKAM (Querist) 23 June 2014 This query is : Resolved
Hi,

My friend has given some soft loan in form of cash to his friend of Rs. 150000/- to the condition that he has to repay loan within 3 months. lender do not have any proof of loan, only on the mutual understanding he have loan.

Now the 8 months completed borrower has not repay the loan, now the lender having some trouble, he is ask for the repayment, but borrower ignore him.

Please tell me suggestion how to sort out this problem.

In this situation what should the lender do

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Sudhir Kumar, Advocate (Expert) 23 June 2014
money given in charity does not come back.

Parthasarathi Loganathan (Expert) 23 June 2014
In the absence of any DPN or any document to cover the liability it is not legally tenable to recover the loan dues through legal means. However, you need to maintain good relationship with your friend and impress him about his repayment obligation.

R.K Nanda (Expert) 23 June 2014
send legal notice to borrower to re-pay loan amount to lender within 30 days.

Devajyoti Barman (Expert) 23 June 2014
in absence of written roof of loan, it is unlikely to be recovered.

Dr J C Vashista (Expert) 24 June 2014
Better to forget.

Rajendra K Goyal (Expert) 24 June 2014
In absence of acceptable proof of the loan it is difficult to recover.

Sankaranarayanan (Expert) 24 June 2014
Better to convince him and try to get your money cleverly with affection love

R.K Nanda (Expert) 24 June 2014
nothing is impossible and thus try and send legal notice to get ur money back.

malipeddi jaggarao (Expert) 24 June 2014
Legally he is not bound to pay. However, you can make a trial by sending a legal notice. He will certainly reply that he has borrowed anything.

ajay sethi (Expert) 24 June 2014
dont send legal notice . send email to your friend to repay sum of Rs 1, 50,000 advanced as friendly loan . if no reply received send further reminders . then file summary suit for recovery of said amount

R.K Nanda (Expert) 24 June 2014
how can u forget as amount of Rs.1.5 lacs is big amount and thus take legal action as advised by me. if legal notice fails file recovery suit in civil court.

Biswanath Roy (Expert) 25 June 2014
I know how to recover cash loan but I SHALL NOT DISCLOSE IT TO A CREDIT ANALYST LIKE YOU WHO MAY USE MY TRICKS FOR HIS PERSONAL GAIN.

T. Kalaiselvan, Advocate (Expert) 26 June 2014
I see some meaning from the views expressed by expert and learned senior advocate Mr. Biswanath Roy Sir on the subject query especially on the basis of title of the author, thus I too shall tight my lips.

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