Dear Lawyers,
One of my friend deposited his money 3 lacs to his friend who is running the local chit funds(without registeration). Now last 2 years , he did not pay any interest amount. Now my fried asked him to return only the Princiapal amount and he refused to pay and dragging him. My query is
a. Can he lodge the police complaint against him under IPC 420? or
b. Can he lodge the complaint to EOW (Economic Offence Wing)in my area? or
c. Can he file the civil suit againdt him?
Please give me the reply on which one of the above will give speedy recovery of my money?He is urgently in need of money and please help me by providing the reply.
Please note that he sent already lawyer notice to pay back his money on last week unitl now ne reply from that cheater.
Regards,