Dear Sir, In 2015 in month of July - I gave a loan of 3 lakh to a person who convinced me to invest in his tours and travels business .The agreement was to be in place .However once the amount was credited, he started giving one or the other excuses and kept postponing it.I had a trust over him and hence I gave him a cheque.Finally in Oct 2015 ,when I called to him- I was surprised when he informed me that he has closed his tours and travels business ( which he has not) and that money would be a loan to him and he will return with interest.As a result no formal agreement was in place.I started calling him since month of May for the repayment and every instant I kept hearing excuses and false promises and now he has stopped taking any calls,responding to any meeting requests, no reply on emails. Problem is I know his office address but I am not sure whether he opens it because he is a fraud. I don't know his home address. I became a fool with my own hard earned money. Kindly advise what steps should I take and how the money can be recovered. I have the two payment made by cheque as the only evidence .
1 issue legal notice to borrower to repay your 3 lakhs with interest
2)if he fails to pay file summary suit under order XXXVII of code of civil procedure
3) if borrower does not have any defence you can get decree for said amount with interest within a year
1. Without an agreement being executed you should not have invested your money. Be that as it may, you should now file a complaint to the jurisdictional police station under section 406 and 420 IPC for criminal breach of trust and cheating. If and when he applies for anticipatory bail then contest it fittingly on merits.
2. A civil suit for recovery of money should also be filed against him as it is the civil court alone which can get you back your money whereas the criminal court can only punish the offender for the offence committed by him.
3. You require his address where the court can send summons to him.
Dear Sir....
In this issue ..you can file the complaint in police station ....related with cheating and fraud..there is no matter of address proof and other formalities....police can search him ...and produce in the court of law...
Best Regards
Mob-No-[deleted]
1. You have no agreement made with him, do not know his address, did not keep any security from him but still have provided him loan from your hard earned money.
2. He has as expected closed his shop and is not responding to your call for which you now have gard way to recover your loaned amount from him.
3. Lodge a police complaint against him alleging that he has cheated and defrauded you by closing his shop after collecting money from you as share of a partner promising you that he will register a partnership agreement after the cheque is credited.
4. If police fails to tak any action against him, file a Writ petition before the High Court against police for its inaction seeking relief.
The action of your friend is nothing but criminal in nature.
So without wasting any time lodge complaints with local police of cheating against this person.
The several communication you had made will prove that you indeed lent him money.
On registration of FIR when fear of arrest will hang on him he will surely come forward to return of money.
Good luck.
The evidence of payment by cheque shall be sufficient to file money recovery suit against him.
You may first issue a legal demand notice to him about this.
On failing to repay or comply with the requirement you may initiate money recovery suit against him.
If you find any property lying on his name, you may even file a petition to attach his property before judgment for security purpose.
