Sir, I gave a man Rs one lakh on loan by taking signature on blank stamp paper five years
ago with minimum interest per month. Now he is neither giving interest nor returning my
principal amount. Kindly advice
Asked 2 years ago in Property Law from Dibrugarh, Assam
you ought to have filed case within period of 3 years to recover your loan amount with interest . your claim as on date is barred by limitation .
Now sir kindly advice what is the best possible option now to recover my amount.
Asked 2 years ago
try to file recovery suit a long with application for condonation of delay ,depending upon your facts court may consider your case
Advocate, New Delhi
has he paid any interest till date during period of 5 years ? how was money advanced by cash or cheque ? did you at any point of time demand your money in writing ?
The amount cannot now be recovered after elapse of 5 years. Write it off as a bad debt.