Manoharan Varadarajan 07 May 2022

Money borrowed as loan not repaid by my friend

I have given Rs 15 lakhs through bank transfer in different installments 5 years ago as he wanted for his urgent family needs and promised me to settle with 9% interest per annum. He has given me three post dated signed chques. Since he is my friend and for surity i entered with agreement in 50 Rs stamp paper as pro note. Now he is delaying and not repaying the loan nor interest. Shall i sue him through legal proceeings and whats the relied he kept promising me that he will pay me soon. Whats the legal remedy? whether the stamp paper agreement signed copy considered as legal documents and what else is require. Now he is in debt as most of his property is under bank loan due to business. Please advise me way forward. thanks for your support.

Regards

V.Manoharan

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7 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 07 May 2022

send a legal notice through a lawyer get their reply for the notice and file a suit for money recovery in the civil courts

Manoharan Varadarajan 07 May 2022

Thanks for the swift response.

Advocate Bhartesh goyal (advocate) 07 May 2022

Issue notice to your friend and demand the loan amount with interest. If notice is not complied with

then file siit for recovery of money also file petition u/order 38 rule 5 cpc for attachment of his property before judgment.

Manoharan Varadarajan 07 May 2022

thanks for your expert opinion

Yousuf Zameer 08 May 2022

You can simply send legal notice and bring him to court. If you are right, you will be given the justice 😃

Dr J C Vashista (Advocate) 08 May 2022

Whether the cheques are for entire dues, still valid and got dishonoured ?

Manoharan Varadarajan 08 May 2022

Sir, he cheques are blank cheque for entire amount but still i havent encashed it and keeping with me having trust with my friend one day he will repay the loan however i have some financial commitment and i can;t wait for it so i need to take action. Thanks