Hello,
send a legal notice to him for recovery and if he does not respond to the same then a civil suit for recovery will have to be filed by you.
regards
Hello, I have some amount loaned to a friend in Mar 2015. He had assured to return the amount with interest by Mar 2017 but hasn't returned it yet. I have transferred the amount through NEFT to his account. I didn't get him to sign any legal document for this loan and the online transfer is the only proof. Is there anyway I can recover this amount plus interest through the court of law? Pls advise
Hello,
send a legal notice to him for recovery and if he does not respond to the same then a civil suit for recovery will have to be filed by you.
regards
Yes, you surely have a legal remedy to recover the dues that yo extended to your friend.
As a first measure, send him a legal notice in this matter.
In case he fails to comply with you legal notice, file a summary suit for recovery under order 37 CPC>
there is no agreement to pay interest . no loan agreement signed by your friend
2) your claim is barred by limitation
You have to file recovery suit, NEFT valid proof. Don`t show money given on interest but just mere lending. Court will order recovery of amount with interest. Send legal notice first.
Very difficult but you can try before the Civil Court by filing a recovery suit but I think wastage of money.
I also have recorded our phone conversations which has him on record that 1. He agreed to pay the said amount (Principal + Interest) 2. That he is long past the due date Will that help boost my case?
Yes these conversations can be produced as evidence.
send a Legal Notice to him at the earliest.
regards
obtain in writing from your friend that x amount was given as loan to him and he agreed to repay said amount with interest
audio recordings are admissible in evidence
If you have given him money and you have the statement of bank, you can easily file a case of recovery in the civil Court.
You can send a legal notice to the person seeking your amount back in case on notice he fails file a suit to recover the amount back in the civil court.
Dear Sir,
Immediately you have to get issue a legal notice or directly file a suit for recovery of amount which is evidenced by NEFT payments. Nothing to worry though there would be delay but you will get amount with interest.
Since this amount was lent by you in the year 2015, it is more than three years now, hence barred by limitation.
You may not be able to recover the loan amount through law.
Since the loan is barred by limitation, if you want to bring it back to life then you may first issue a legal notice to him demanding the return of loan amount with interest.
Let him commit to return the same which can be treated as an acknowledgment after which you can file a money recovery suit
Dear Sir,
If you have any proof of transfer of money that you made or your friend made then you can keep those papers as evidence and file for a recovery suit in the court once you have sent him a legal notice and a reasonable amount of time to pay the pending amount.