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Q. Recovery of amount

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firoz khan

posted 5 months ago

Q.Recovery of amount
Dear Sir
I have a small slitting machine unit to make Thermal paper Billing roll ,i have a client to whom i have supplied the rolls and we had given a credit of more than one lakh and the credit has reached more than 180 days initially he used to respond and give some or other confirmation about the payment from last month he is not picking up the call nor responding the mail or whatsapp. I have started this company based on loan and we are in MSME sector. Now bank is demanding for the interest.Its become difficult to run day to day activities due to money rotation is stuck.
Want to recover this amount from him what will be the best legal alternative without filing a case and extend .
Please advice

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Kishan Dutt Kalaskar Retired Judge

Experience: 33 Year(s)

Responded 4 months ago

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A. ) Dear Sir,
You can get issue a legal notice and later file a suit for recovery of money. You will get the amount with interest.

For full procedure contact me on mobile through Vidhikarya.
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BIR ABHIMANYU KUMAR

Experience: 3 Year(s)

Responded 5 months ago

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A. ) First of all you must send a legal notice through a lawyer by mail and registered post under section 406 and 420 of IPC and also Consumer Protection Act and provide a time for one month for replying of your notice thereafter you may lodge case in consumer court and second you may lodge casebefore local police through FIR and second option is you may lodge criminal case against accused in CJM ( chief judicial magistrate) local Civil Court you may contact with me

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Mohd Abitasham

Experience: 6 Year(s)

Responded 5 months ago

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A. ) Dear sir
Send him a legal notice for the payment within stipulated time.or you can lodge a fir in a police station .

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Rameshwar Dadhe

Experience: 2 Year(s)

Responded 5 months ago

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A. ) U should file money recovery suit against them immediately

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Adv dadasaheb Lande

Experience: 16 Year(s)

Responded 5 months ago

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A. ) Recovery notice send responsible person before recovery suit file against rolling paper due to bill

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Shreyash Mohta

Experience: 1 Year(s)

Responded 5 months ago

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A. ) Send a legal notice to your client directing him to pay the credit amount with interest @xyz% P.A. within a stipulated time period. [percentage of interest and time period is to be decided by you] also mention that, if such client fails to pay back the amount then he shall be liable for proceedings against him for recovery of the said amount.

If the client fails to comply with such legal notice then you are left optionless and you have to file a suit for recovery of money from such client and send him summons for the same to appear before the ld court and prove himself not guilty.
Thanks
Shreyash Mohta

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