01-01-2013 dated 225000/- money
i am ravi from hyderabad one person name of laxmi age of 27 years 225000/- purpose of business using my money total cash. some other reasons person is business closed and out of city. living present warangal (hotel field own). how is my money back with intrest. intrest is 2%. already promissor notes & one hundred stamp paper he (laxmi) is filling matter total hand writing.
total around 400000/-. i am is very poor and sc canddidate. laxmi is chowdary and own villege khammam nearly.
Asked in Business Law from Hyderabad, Telangana
1.When did you lend money to this lady? Was the amount advanced in cash or through cheque or some other mode of transfer of money?
2. On the basis of the promissory note executed in your favour you can recover the amount from this lady by issuing a legal notice to her through your lawyer.
3. If she does not repay the principal amount with interest then you can file a lawsuit for recovery of money.
first of all issue a legal notice to him and demand your money, if he is not make the payment within notice period then you may file a civil suit for recovery against him before civil court.
as per my opinion you should not mention the interest rate if you are not licencee money lender otherwise a criminal case under Money Laundering act may be filed against you.
Advocate, New Delhi
1) your query is not clear
2) whether you borrowed money or advanced money
3) if you have advanced money you have to file summary suit for recovery of rs 4 lakes with interest
4) if you have borrowed money and suit is filed by lender contest case on merits
5) you can reach out of court settlement with Laxmi
1. You shall have to lodge a police complaint agaisnt laxmi now,
2. You can also file a Recovery Suit against Laxmi claiming refund of the said amunt with interest at bank rate.