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Q. debt

hello sir.my husband take money from one person on int 8% per lakh n his frn take my sign on notery paper.our buisiness have some leagle problems.so my husband dont able to give him money.n i also dont have money.in that matter what to do.he said me that he will took me in police lockup.pls give me advicew
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A. Dear Ma'am

First there is no need of worrying, as no criminal complaint is maintainable against you. So, no question of arrest or police lockup arise here.
Secondly, he cannot lend any money to you on interest until and unless he is licencee under the Money Lenders Act.
Thirdly, if he uses the said notarised paper against you and file a suit for recovery, we can defend the same.

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Harsh Vardhan

Experience: 4 Year(s)

Responded 3 months ago

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A. Madam there is nothing to worry. No one can arrest on such grounds and also if there is a money suit against your husband you can always contest it saying that your business had legal problems and because of that you were unable to payback the same. However you do have the Intentions to pay the same and can pay it back by way of instalments and that must be allowed by the court. If not that, then, you both can come together to a compromise and settle this matter amicably.
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Shreyash Mohta

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Shreyash Mohta

Experience: 1 Year(s)

Responded 4 months ago

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A. Dear Madam,
Nothing to worry. It is useless paper. It cannot be used in court. If he approach the civil court it takes 3 years. No offense can be made on such paper. No body can arrest you.

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Administrative Law (470)
Adoption (125)
Advertising (59)
Animal Laws (40)
Arbitration and Medi... (50)
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Banking (593)
Bankruptcy and Debt (201)
Cheque Bounce (424)
Child Custody (166)
Civil (2161)
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Customs, Excise (42)
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Divorce and Separati... (1602)
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