A.Negotiable instruments Act : Under this, there are provisions to recover debt or money for instruments like cheques, bills etc.
Criminal suit: The lender has to prove that the person had committed criminal breach of trust and had not returned the money. So he can file a suit under Section 420 of IPC as the person whom he had to lend the money has cheated him and also under Section 406 of IPC for Criminal Breach and if the court finds guilty, the person will be imprisoned and has top repay the money he borrowed.
Civil suit: 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.
Criminal suit: The lender has to prove that the person had committed criminal breach of trust and had not returned the money. So he can file a suit under Section 420 of IPC as the person whom he had to lend the money has cheated him and also under Section 406 of IPC for Criminal Breach and if the court finds guilty, the person will be imprisoned and has top repay the money he borrowed.
Civil suit: 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.
Helpful
Helpful
Share
Read Related Answers
Home loan for Gifting deed
Dear Client,
Once a donor or owner of the property gifted the property to the donor through a registered deed of gift, the property becomes the self-acquired property in the hand of the donee who beco...
Car loan
Dear Client,
Once a borrower fails to repay his debt, the Lenders/FIs initiate a routine course of action for recovery of the loan/debt from the borrower. You may negotiate or settle your dues agains...
CKYC for Bank Account of ABC Tenants Group
Dear Client,
An association is a body of individuals and an association is required to be registered under the Societies Registration Act to make it a legal entity to apply for PAN. So when you are o...
Bank ke dwara 13 2 ka jawab nahi Dena
Dear Client,
According to Section 13(2) of SARFAESI Act, the borrower is required to repay the outstanding dues within 60 days from the date of the notice. If the borrower fails to comply with the not...
Money in account is put on hold by cyber cell
Dear Client,
When a cyber complaint is field on National Cyber Crime Reporting Portal (NCCRP) or in case of any police complaint, the Cyber Crime Cell directs the concerned bank to freeze the accounts...
Read Blogs on Banking
Banking Lawyers
Find Lawyers by Location
