Sir in case of recovery suit the limitation period is of three years to acknowledge the debt. Since you have exceeded the limitation period you can give a legal notice for returning your money if he doesn't respond then along with recovery suit you have to file a con donation of delay application and explain to court as why there was a delay.

if court accepts your application and condone delay than only your recovery proceeding can start.

Also you can file a cheating case against him under 420 IPC

if you have acknowledgement of debt that he owe you 2 lack rupees within three years of giving amount to him than the fresh limitation period will be counted.

Send him a legal notice to ask for money.

If he does not respond then file a summary suit for recovery of money.

Also you may file a police complaint against the said incumbent.

Regards

Send him a legal notice to recover this amount.

If he does not abides by the legal notice, file a summary suit for recovery against him under order 37 CPC.

issue legal notice to agent to repay sum of Rs 2 lakhs advances to him as loan

2) if he refuses to pay file police complaint of cheating against him under section 420 of IPC

3) also file summary suit to recover you r money with interest

The limitation period for repayment of the debt is 3 years if the acceptance of the loan has not been given by borrower within that period.

Since , the said amount was given in the year 2011, now the recovery is not possible as per law.

The said loan was given through cheque , but what security you have taken from him for the said payment.

For proper guide, you should give complete details.

File recovery suit,

Its already time barred. Limitation for filling recovery suit is 3 years from amount due.

1. To recover the money you can file civil suit for recovery of money within 3 years from the date of payment.

2. Since civil suit takes time and costs as well its advisable that you file case of cheating also.

3. Once police registers FIR and proceed to arrest the accused person you can expect refund of your money soon with interest.

Please send the legal notice to the LIC agent mentioning all the points a payment of rupees 2 Labs to pay the entire amount in 15 days along with the interest please also mention that in case he fails to pay the amount in the stipulated period you will be forced to take legal action and he will be responsible for all the legal expenses in this regard and file a criminal case under section 420 and 406 of IPC against LIC agent in the Court along with the case in the court you can write today LIC regional office against the fraudulent transaction of the LIC agent.

Hello sir , first serve him a legal demand notice , to refund the amount within 15 days .. If he do not repay , you can file a civil suit for recovery in court

You have 3 years Limitation to file the case. If you have some communication or email etc which is within 3 years then you can file the case. Else you need to take a cheque from him and I'd he bounces then you can take action under Negotiable instruments Act

1) You can complaint in consumer forum, but one should first complaints in LIC headoffice against agent and explain all points.

The loan amount can be recovered if you have evidences and also the it should be within three years from the date of lending the money.

Do you have any correspondence from him for having admitted the loan amount borrowed from you within the last three years as on this date, so that you can fix the liability and file a recovery suit.