RAHUL (DIRECTOR) 19 December 2013
I HAD TAKEN A HANDY LOAN FOR Rs 2,00,000/- FROM A PERSON IN JANUARY 2012. THERE WAS NO LEGAL PAPER SIGNED OR ANY CHEQUE GIVEN OR BOND PAPER SIGNED. IT WAS JUST MOUTH TO MOUTH GUARANTEE. THERE WAS NO WITNESS ALSO. I HAD TAKEN IT FOR A PERIOD OF 3 YEARS ON SIMPLE INTEREST OF 7%. BUT NOW SUDDENLY HE IS ASKING ME THE MONEY AND THREATENING TO LODGE AN FIR. WHAT ARE THE CONSEQUENCES?
HIRAL THAKKAR (ADVOCATE ) 20 December 2013
It all depends on the transaction of give and take, also your method of repaying the same.
RAHUL (DIRECTOR) 20 December 2013
Sir it was purely cash transaction. NO paper work at all. NO guarantee bond or cheque or any pledge kept. Only mouth guarantee. No A/c to A/c transaction.
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