Jayanta Bandyopadhyay 07 September 2024
We (Unlisted Public Ltd Co) have given one inter corporate loan to one NBFC for a month. But no recovery even after one year. Unfortunately, Promissory Note is signed simply on borrower's letter head. The Borrower's cheque was also not deposited based on trust. Then we could have gained the benefits of NI Act.
Does it require court fee and registration so as to file money suit in civil court.
Kindly advise
Adv. G. A. Gagdani (ADVOCATE AND LEGAL CONSULTANT) 07 September 2024
You can file summary suit but it has to be within the three years
Advocate Bhartesh goyal (advocate) 07 September 2024
Yes, if you want to file suit for recovery of loan amount along with interest then you have to pay court fee.
i
T. Kalaiselvan, Advocate (Advocate) 07 September 2024
you can file a money recovery suit or even a summary suit for expeditious recovery of the advanced amount on the basis of the promissory note (even if it was executed on the letter head of the borrower), the cheque is also an additional evidence for the amount lent.
You cannot file a cheque bounce case now because it is barred by limitaition
you may have to pay applicable court fee for the money recovery suit as per the court fee act of your state.
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