Fraud in the name of chit funds
1 year ago
Sir, I D.VINOD KUMAR have relied on a central govt. An employee who used to run a private chit fund of Rs 5 lakhs, he was genuine in the beginning but after he joined hands with some other partners, due to their internal misunderstanding they had some issues and now he says that due to that he incurred loss and he now unable to repay my chit amount of Rs 4 lakhs,I humbly requesting him for my money, he is now saying that he is in debts and will be pay he will be able to pay the money. Now it's three years he still has an outstanding of Rs. 3 Lakhs. What shall I do, kindly advise. I got a booklet signed by him for my monthly payment.
A.Dear client,
The lender can file a civil suit for recovering the money he owed through promissory note or loan agreement. He can do so under Order 37 of CPC which allows the lender to file a summary suit. He can file this suit in any high court, City Civil Court, Magistrate Court, Small Causes Court.
Thank you.
The lender can file a civil suit for recovering the money he owed through promissory note or loan agreement. He can do so under Order 37 of CPC which allows the lender to file a summary suit. He can file this suit in any high court, City Civil Court, Magistrate Court, Small Causes Court.
Thank you.
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