Loan recovery
Anand
(Querist) 20 May 2012
This query is : Resolved
I lent a sum of money to a person who is a partner in a partnership firm. The money was confirmed by another managing partner. If I file a recovery suit, should I name the partner individually or both partners (or the partnership firm as an entity)?
So far, they are refusing to return my money. Can I file an attachment suit on any property?
M/s. Y-not legal services
(Expert) 21 May 2012
there is any pro-note between yours?., if yes mean you have to issue legal notice in time., if there either no payment or reply with in the given time mean then you can file suit for recovery of your money.
yes. you can file against both of them., but if both are responsible to repay mean.
-tom-
adv. rajeev ( rajoo )
(Expert) 21 May 2012
If the money lent to the partner for his personal use then partnership firm is not necessary. If it is for firm business then firm is necessary party.
malipeddi jaggarao
(Expert) 21 May 2012
confirmed by Managing Partner - what is confirmed. Whether the loan is taken on behalf of partnership for business purpose? Or simply he confirmed that the other partner has received money in his personal capacity? If you have lent to partnership firm, you should have obtained Promisory Note. Please give full facts.
V R SHROFF
(Expert) 21 May 2012
File case with person & Firm, bott as Defendants party.
Anand
(Querist) 21 May 2012
There is no promissory note. Partner #2 confirmed this cheque was deposited into the Partner #1's account and funds cleared, but did not mention the cause for which it was borrowed.
Partner #2 also withdrew the money from Partner #1's account via self-cheque via power of attorney and is falsely stating that Partner #2 returned this via cash.
