Debt recovery - I have paid a sum to a known person
1 year ago
I have paid a sum to a known person for monthly interest a year back. I have a bond signed by him. Now he is not paying interest from last 8 months and he is not paying back the principle also. What legal options I have to take on him?
A.Dear Sir,
If you are still in good books with him then smartly take atleast postdated cheque because it is easy to recovery the amount. In respect of Bond you have to pay stamp duty to file a civil suit and you have to wait for 3-5 years to get your amount.
If you are still in good books with him then smartly take atleast postdated cheque because it is easy to recovery the amount. In respect of Bond you have to pay stamp duty to file a civil suit and you have to wait for 3-5 years to get your amount.
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A.Hi client,
Did you make a valid agreement while giving such money to him. Or do you have a witness who can say the same ?
Collect all the documents like the transaction details the conversations related to the said payment , lodge an FIR in your local jurisdiction.
Thanks and Regards
Simi Paul
Did you make a valid agreement while giving such money to him. Or do you have a witness who can say the same ?
Collect all the documents like the transaction details the conversations related to the said payment , lodge an FIR in your local jurisdiction.
Thanks and Regards
Simi Paul
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A.Dear Client
It is illegal to finance any one on interest because it is commercial transaction but if you are registered into money lending business then you can definitely lend money as a money lender. If you are not a money lender then you have no remedy because it is an illegal act. Contract becomes void in illegal contract.
I hope it helps
It is illegal to finance any one on interest because it is commercial transaction but if you are registered into money lending business then you can definitely lend money as a money lender. If you are not a money lender then you have no remedy because it is an illegal act. Contract becomes void in illegal contract.
I hope it helps
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