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Suraj 06 September 2016

Unsecured loan recovery from pvt ltd company

Hi, I have given an unsecured loan to a private limited construction company in 2012. The amount was transfered from account using RTGS to company account and I have the RTGS proof. There is no agreement was made as one of director in company is a close relative. The company is refusing now to return the loan and I have sent many emails in last 5-6 months. What options do i have to recover my money from the company? Its already cross 3 years so I guess i can not file a recovery suite? Should I file a winding up petition?

Thanks

Suraj

Learning

5 Replies

Nitish Banka (lawyer) 06 September 2016

is there any acknowledgement from the company if yes then it would kickstart the limitation period, send a legal notice at first

Regards,

Adv. Nitish Banka

9891549997

Suraj 06 September 2016

Dear Nitish,

Thanks for your reply.. There is no acknowldegement but money was paid via RTGS to company's account which is in the account statement.

Does that work for kick start of process?

Thanks

Suraj

Ms.Usha Kapoor (CEO) 06 September 2016

AN UNSECURED CREDITOR CAN'T FILE A WINDING UP PETITION IN RESPECT OF A TIME BARRED DEBT.

Suraj 06 September 2016

And why is that Ms. USHA? What is the remedy for non secure creditor in that case?

Law Aspire (Legal) 07 September 2016

I would also like to know the remedy in this case.

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