Money recovery
Tulica
(Querist) 19 February 2016
This query is : Resolved
Dear Experts,
I have loaned some amount to a friend in good faith but he has declined to make the return payment. I don't have any legal document or an agreement but the acknowledgement of loan in recorded in mail and sms. can it be used to file a case for recovery or even fraud?
Note: All the transactions are recorded in online payment records.
Thanks
R.K Nanda
(Expert) 19 February 2016
yes, u can file recovery suit against ur friend within 3 years .
R.K Nanda
(Expert) 19 February 2016
yes, u can file recovery suit against ur friend within 3 years .
R.K Nanda
(Expert) 19 February 2016
yes, u can file recovery suit against ur friend within 3 years .
Tulica
(Querist) 19 February 2016
Thanks Mr Nanda. Could you please let me know if it is advisable to pursue this for an amount of 3-3.5 l?
Is there a genuine possibility to close this in reasonable time if the money was loaned without any agreement?
Also, will it help to slap fraud charges?
Guest
(Expert) 19 February 2016
Can you reproduce here the extract of his acknowledgment of money through email or sms?
Tulica
(Querist) 19 February 2016
Dear Mr Dhingra, Thanks for the reply. The loan amount was paid to him through a series or transactions over a period of 3 years. I have few mails where he has promised the repayment. also an sms after his last return, where he has acknowledged that 2.5 l is remaining with him which he shall return. The text message says:
"Transfered 265k in ur account 015201540947 .. Pls confirm .. Amount bada hai so pls confirm asap .. Rest 2.5lac installment mai deta hu :) hope u r doing good .. Awaiting ur confirmation. "
Tulica
(Querist) 19 February 2016
*deleted the content*
Guest
(Expert) 19 February 2016
Dear Tulica,
SMS does not indicate about remittance made on account of what, however, the last sentence of email in support of the sms may work to some extent. Better meet some local lawyer to issue a legal notice to him.
Rest depends upon the response to your notice.
Tulica
(Querist) 19 February 2016
Thanks for your advice!!
H.M.Patnaik
(Expert) 20 February 2016
The alleged loan amount being sizeable, you have not kept sufficient evidence to strengthen your prayer for recovery of said dues. Besides, it is evident from your post that you have not intended to make the transaction done in a legally enforceable manner and this is a mere transaction between friends.Even if you issue a legal notice for repayment of dues,this may not be taken seriously if the other part consult an experienced lawyer.You can still take a chance.
Rajendra K Goyal
(Expert) 20 February 2016
If possible try to get post dated cheques. If he does not agree send legal notice. Discuss with your lawyer.
Tulica
(Querist) 20 February 2016
yes sir @ Mr Patnaik. it was a friendly transaction based on trust. also, the person in question has made it clear that he has no intentions of returning it. So there is no question of post dated cheque.
Thanks for the guidance and your responses!!
