Money recovery
Bhaskar Chinthalapally
(Querist) 15 October 2024
This query is : Resolved
Recently I lend money to one of junior of college as he was in need of 20k and he promised to return the same in one month and it's been almost three months now and he has been not answering calls or texts anymore and I found he has been doing this other people aswell and only thing I have is transaction I made and other chats and I don't even have his address is there any help I could get I am not interested in getting back my money but people like him should learn a lesson anything to do will be very much helpful
T. Kalaiselvan, Advocate
(Expert) 15 October 2024
You can lodge a complaint for cheating and breach of trust with local police, if you don't have his address then you can give his phone number, the police will take care.
Sudhir Kumar, Advocate
(Expert) 16 October 2024
You can move as advised above
but
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.
Such loan is taken by a person:-
Who lacks business sence and cannot raise funds out of his own business and suddenly wants to be rich.
who cannot raise bank loan because :-
Either
he himself is not creditworthy
Or
the purpose for which he seeks loan is illegal
or
the purpose for which he seeks loan is not at all commercially viable.
Who knows he can afford not to refund.
Who trusts his thick skin
Who intends not to refund
Who has made fortification against action of refund.
So he has to find someone who can part with his money. SO he finds a lender near him (friend or relative)
Such loans are given by the persons :-
Who has surplus money.
Who displays and boasts of such surplus money.
Who stupidly believe that there will be a refund.
Fails to realise as to why he alone (not bank) is being contacted for loan.
Who has extreme trust on the debtor
who are either stupid or extremely greedy of the unusual (or illegal) rate of interest.
Such loans are always given
Without documentation.
Without witness
Without guarantor.
Business started by such money (easy money belonging to other) invariably fails.
Such loans always sink and not refunded.
