Case for recovery of money
2 months ago
What legal action can be taken If someone hai taken money and not returning
A.Dear Client,
As you provided a personal loan from an individual capacity and without the proper licensing or permission from regulatory authorities like RBI or SEBI, you lack legal recourse. Engaging in money lending or financial transactions without the required authorization is considered an offense under the Prevention of Money Laundering Act, 2002 (PMLA). This law targets the criminal act of legitimizing income from illegal sources. The absence of documented financial transactions makes it challenging for both the lender and borrower to take legal action against each other. However, if the lender resorts to forceful measures to recover the money, they could face criminal charges upon the borrower's complaint to the competent authority.
As you provided a personal loan from an individual capacity and without the proper licensing or permission from regulatory authorities like RBI or SEBI, you lack legal recourse. Engaging in money lending or financial transactions without the required authorization is considered an offense under the Prevention of Money Laundering Act, 2002 (PMLA). This law targets the criminal act of legitimizing income from illegal sources. The absence of documented financial transactions makes it challenging for both the lender and borrower to take legal action against each other. However, if the lender resorts to forceful measures to recover the money, they could face criminal charges upon the borrower's complaint to the competent authority.
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A.Dear Client,
As you provided a personal loan from an individual capacity and without the proper licensing or permission from regulatory authorities like RBI or SEBI, you lack legal recourse. Engaging in money lending or financial transactions without the required authorization is considered an offense under the Prevention of Money Laundering Act, 2002 (PMLA). This law targets the criminal act of legitimizing income from illegal sources. The absence of documented financial transactions makes it challenging for both the lender and borrower to take legal action against each other. However, if the lender resorts to forceful measures to recover the money, they could face criminal charges upon the borrower's complaint to the competent authority.
As you provided a personal loan from an individual capacity and without the proper licensing or permission from regulatory authorities like RBI or SEBI, you lack legal recourse. Engaging in money lending or financial transactions without the required authorization is considered an offense under the Prevention of Money Laundering Act, 2002 (PMLA). This law targets the criminal act of legitimizing income from illegal sources. The absence of documented financial transactions makes it challenging for both the lender and borrower to take legal action against each other. However, if the lender resorts to forceful measures to recover the money, they could face criminal charges upon the borrower's complaint to the competent authority.
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A.Dear Client,
Since you lent the money in your personal capacity from a personal source, you have no legal remedy to ask for because trading of money lending or any other financial transaction without any license or permission of the concerned regulatory authority like RBI, SEBI, is an offense under the Prevention of Money Laundering Act, 2002 (PMLA) which was enacted to fight against the criminal offense of legalizing the income/profits from an illegal source. In the absence of recorded financial transactions, both the lender and borrower are unable to take any action against each other. Instead, in case of any forceful action against the borrower to recover the money you may be booked for criminal offense once the borrower complains about you before the competent authority.
Since you lent the money in your personal capacity from a personal source, you have no legal remedy to ask for because trading of money lending or any other financial transaction without any license or permission of the concerned regulatory authority like RBI, SEBI, is an offense under the Prevention of Money Laundering Act, 2002 (PMLA) which was enacted to fight against the criminal offense of legalizing the income/profits from an illegal source. In the absence of recorded financial transactions, both the lender and borrower are unable to take any action against each other. Instead, in case of any forceful action against the borrower to recover the money you may be booked for criminal offense once the borrower complains about you before the competent authority.
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