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avirup banerjee (relationship manager)     14 February 2016

Recovery of lent money

I had given a loan of some sum to a person with high interest rate for a month.Its been over 5 months he has not returned anything but only 10% of the sum and says needs more time to send.I have email as proof.Do I have any legal option?



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 4 Replies

ROHIT SHARMA (Legal Advisor )     14 February 2016

1. Have paitence and show good feelings towaqrds him this will make him respect you and for sure he will repay at the earliest. Do not rebuke him but be tactful and keep reminding him of his promise.

2. i suppose that you have some evidence of the money loaned.

anshula (a)     14 February 2016

Dear Avirup,

You should begin by sending him a legal notice because that will set the record straight. If possible, get it sent through a lawyer as it will create pressure. Please specify if the email includes proper terms of loan and repayment and whether there is an email admitting the liability. The emails can also amount to a contract between the parties. 

The quickets remedy is to file a summary suit before a civil court for recovery of money. Please indicate the location of your city. 

Regards,

Advocate Anshula Grover

avirup banerjee (relationship manager)     14 February 2016

Hi

Thanks for your reply.I am in delhi and that person is in kolkata.In email its only mentioned that I have given him that sum with 10% interest in a month and he will return after one month.AFter that there has been more emails where he asked for more time and I allowed on more interest.Now if he says he can not give now and needs time to do that honestly tell me do I really have an option??If i force him he can also file a mental harassment case against me?is it true?

anshula (a)     14 February 2016

If u ask for your money back that does not amount to harassment. You should send him a legal notice through an advocate at once. You can contact me at anshula.grover@gmail.com for any assistance you need. I practice in Delhi and deal with such cases. Regards, Anshula Grover

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