Yes you can file recovery suit against him in the said circumstances before civil court
Lended money but unable to recover
Hello sirs i have lended 15 lacs to my friend . I have got signatures from him in a bond paper, my friend gave money to his father, His father has started a hotel business with that money and its running well also, Now i am asking to pay the money back , they are saying that business is in loss, its been 6 months they didnt pay interest also, the hotel is on his fathers name, can i file a case against my friend and get the hotel written on my name ? is it possible to get the hotel on my name which is on his fathers name ? i dont have his fathers surity signature , can i ask the court to put a stay on the running hotel, or put it for sale so that i can get my money back ? Kindly suggest, hope you are clear with my question
Asked 4 years ago in Criminal Law
Religion: Hindu
First answer received in 10 minutes.
Lawyers are available now to answer your questions.
22 Answers
You have to sue your friend to recover Rs 15 lakhs with interest
2) you can sort obtain stay on running of hotel as no money was advanced by you to your friends father
3) father was not guarantor of the loan
1. File "Recovery Proceedings" in the local civil court against Friend, by providing all relevant documentary evidences and witnesses, for the entire amount plus interest.
2. Nothing can be done on Father and his Hotel.
No, you can only file recovery suit agasint your friend. Money given to his father has nothing to do with you. You can only file recovery suit against him. Send him legal notice.
You have to file suit for recovery of money lent by you to your friend.
You cannot get the hotel which is in the name of your friend's father since he is not party / surety to the transaction.
You can get stay on said hotel business.
Followup question : After suing him , what if he says he doesnt have money in the court also ?
Asked 4 years ago
1. On getting Recovery Decree, "ALL" his personal assets (movable & immovable properties, wherever situated) can be auctioned due to subsequent Execution Proceedings (EP) and your money recovered. ELSE have him declared insolvent and fix him. Whenever he inherits his Father's properties it can be used for the EP proceedings.
Then you need to attach his property.
Court will pass decree in your favour
you can seek attachment of his property ,bank account
You can file a recovery suit to recover your money.
Your friend's father is not guarantor so you cannot recover from him.
1. If if you ave a proof in document that you lent your friend money then you have a good case and for this you can file civil suit for recovery of money in addition criminal case for cheating as well.
2. Since your friend this money from you, he alone is responsible to repay the money and hence all the cases is to be filed against him alone and not his father.
You have to file a suit against him for recovery of money. The court shall order them to pay money if it is proved that they borrowed money from you.
He cannot baldly reject and deny your allegations. He has to prove that he is a pauper.
File case for recovery of money, if the same is decreed in your favour, you can initiate execution proceedings for recovery of your money by attachment of his moveable, immovable properties etc., or you can pray the court to send him to imprisonment in default.
You can file a money recovery suit against your friend only and not against his father or his father's hotel.
You cannot get his father's hotel to your name because he has not borrowed money from you nor he has given surety for loan.
If he's not paying any money then you can get him arrested and send to civil jail till he repays your loan amount.
See you can serve a legal notice and if on notice if he fails you have to file suit to recover the amount. Also in case amount is given to friend it cannot be recovered from his father or his property.
No it is not possible to get hotel on your name or sell same. Also you cannot charge interest of you are not licensed money lender.
Court may after passing the decree against him in execution of same attach his properties.
1. if you have the written receipt of the money lent to your friend, you can file a civil suit for the recovery of the money against your friend,
2. you cannot take a stay on the hotel which is in the name of his father,
1. The hotel cannot be written on your name even by the court.
2. You may file a suit for recovery of money to recover the principal with interest in the competent civil court.
3. If a decree for recovery of money is passed and is not executed then court can attach his property to satisfy the decree.
His property will attach and auction to recover amount. And he may send to civil prison for non payment of amount.
- Since, you having his signature in a bond papers, hence after producing the said bond you can recover the amount from him legally .
- You should know that the limitation period for recovery is only 3 years from the date of last payments if any or from the date of bond paper.
- Firstly , you should issue a legal demand notice to him , and thereby ask him to return the taken friendly loan.
- If not returned within the period of 15 days, then you can file a Suit for recovery against him , but you will have to pay court fee for filing the same.
- No, his fathers business cannot be transferred into your name or its work can be stayed , as you are not having any documentary proof against him .
- If you get decree /order from the court in your favour , then he cannot deny to pay the same legally, otherwise he will go behind the bar . and his property will be attached for sell , and the amount will be paid to you.
1. Yes you can file recovery suit against your friend but you can't be able to get hotel in your name.
2. No it is not possible to get the hotel transfer on your name because it on name of father of friend and you have landed money to your friend and not to his father.
3. Court will not grant any order against hotel because father was not even surety in the loan provided to your friend.
