I gave a personal loan to one of my relative on an interest through cheque. For 6-7 months he paid the interest amount directly into my bank account but after that he stopped paying me the interest amount and didn't even pay back my principal amount.
After my repeated requests and efforts, he just paid me back my principal amount after 2 years. And, didn't pay any interest for 2 years. Although, he has paid back my principal amount but I'm looking forward to get my interest amount of 2 years also that he didn't pay.
PS:-- As a proof, i only have my bank account details to prove that he has deposited the interest amount for 6-7 months in my bank account. I also have his cheque details that he deposited in the bank to pay my principal amount.
A.Issue a legal notice to whom you have granted money as Loan claiming recovery and if he does not reply notice or doesn't return your money within 15 days then you may issue a summary suit against that person. Thank you.
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Anonymous
Replied 2 years ago
Since, as a proof
1) I only have my bank account details to prove that he has deposited the interest amount for 6-7 months in my bank account.
2) I also have his cheque details that he deposited in the bank to pay my principal amount.
Are the above mentioned proofs sufficient to prove him guilty in the court?
A.Dear Client
In case of default in the payment of money, you can approach the court and file a civil suit for recovery of money or a criminal suit for fraud/ breach of an agreement. First you issue a legal demand notice asking him to return the loan amount borrowed from you on date vide bank transaction. If he do not respond or do not comply with the demand made, you may file a money recovery suit on the basis of evidence in your possession for advancing the loan amount to him.
You can file a civil suit for recovering the money he owed through promissory note or loan agreement.
Thanks
Regards
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Anonymous
Replied 2 years ago
Since, as a proof
1) I only have my bank account details to prove that he has deposited the interest amount for 6-7 months in my bank account.
2) I also have his cheque details that he deposited in the bank to pay my principal amount.
Are the above mentioned proofs sufficient to prove him guilty in the court?
PS:-- I DON'T have any promissory note or loan agreement.
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