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Q.Complaint Against Money Lender

Q. Complaint Against Money Lender

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Anonymous

posted 11 months ago

Dear Concern,
I from Mumbai I had taken a loan from one of my client of 3 Lac Rs at March 2014 with 5% rate of interest. He is not authorized money lender.
From March 2014 to March 2018 every month I am paying a 15,000/- Rs as an interest. Till now I had paid 7.20 Lac Rs as an interest. This money lender abuse me if any month I got delay in making payment and also threatening me that he will come to my place and make noise in front of my neighbors etc but now my financial condition running little bad. So I have decided not to pay any further amount to him.
So I just want to know in that case how can I come out should I take help of police to make complaint against him as he is not registered money lender and I had paid more than which I had taken. I had complete bank statement which is showing whenever I had made the payment to him..
As an security he had taken one cheque from me with amount of 3 Lac without mentioning any date.
Eagerly awaiting for your reply Thank You
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A. Before taking the matter with the police you must have adequate evidence i,e.must pay by cheques, . For the details pl. contact some advocate through vidhikarya.com

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Rajender Prasad

Experience: 5 Year(s)

Responded 5 months ago

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A. Kindly provide T n Cs of agreement between both the parties. Regards

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ARPIT BATRA

Experience: 11 Year(s)

Responded 5 months ago

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A. keeping in view the strict act against money lending as suggested by my colleagues. Foe details, be free to contact us through vidhikarya.com.

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Rajender Prasad

Experience: 5 Year(s)

Responded 6 months ago

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A. In Maharashtra there is Strict Act against Money Lending without registration or Licence .You have to consult a criminal lawyer he will help you out and get relief from the illegal activities of Illegal without licence money lender.

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Ambrose Leo

Experience: 9 Year(s)

Responded 11 months ago

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A. Sir,
The state govt enacted their own law against the money lenders/users. In Tamilnadu govt enacted law against money lenders and victim can file complaint in police station or District Legal Aid Authorities for action.

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Johnson Thangiah

Experience: 18 Year(s)

Responded 11 months ago

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A. Hello,
There are many aspects that you have stated in your post. They are:
1. You want to complain against the money lender as he is not a registered money lender.
2. You do not want to pay him the amount as because you have paid more than the amount as Interest.
3. He has taken a cheque from you for an amount of the loan but not affixing any date.
4. You want to approach the police as because he is not a authored money lender.,

The answers to your questions are:
1. He might not be a authorized money lender but he has given you an amount for which you have been paying him interest at agreed rate. So, there is an agreement between you and him.
2. If you have payed interest to him which is more than the loan amount, it does not confer any right to you to not pay his principal amount. The amount of interest is payable by you on principal amount and for the tenure of money that you use. It has got no connection with the fact that since you have paid more interest amount then you need not pay the principal.
3. The cheque taken by him is for security purposes.
4. Making a police complaint against him to the police will not be fruitful as because he has given you a lump sum of money and he is taking interest and you are also paying interest as per the agreement. A police complaint would be advised if there was any breach of the terms of the agreement,.

Since, he threatens you and misbehaves does not give you any right to withhold his money or not to refund him his amount. If, you would like to have a way forward, then please consult for a legal way out.

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Vedant Lakhotia

Experience: 3 Year(s)

Responded 11 months ago

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Anonymous

Replied 11 months ago

Sir there is no written agreement and amount he given by method of cash

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Vedant Lakhotia

Experience: 3 Year(s)

Replied 11 months ago

Please consult for a professional way out in the above matter.

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A. Is there any written agreement made between you and the money lender? clarify that

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NILANJAN CHATTERJEE

Experience: 5 Year(s)

Responded 11 months ago

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Anonymous

Replied 11 months ago

No there is no written agreement, its purely on verbal...

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Anonymous

Replied 11 months ago

He had given me amount of 3 Lac by cash so there is no proof also

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