i gave to a person 2 lakh rupees in 2004. i am from village ,i have only informal record (just on a diary ) of that but the person signed there. Money was given on some interest rate it was also mentioned in that informal record .Now that person is refusing to pay principal + interest.
How can i recover my money? would informal record stand in the court?
Asked 3 years ago in Criminal Law from Kolkata, West Bengal
No, you can not recover as the same is time barred.feel free to call.
Advocate, New Delhi
File cheating case against that borrower in local court with support of that diary.
you can initiate criminal case against him
Advocate, Greater Noida
why are lawyers divided on this issue ? i want to inquire about money recovery.
does criminal case initiation have any solid prospect in culminating in money recovery ?
Asked 3 years ago
Informal record may have helped you in court if you had brought the legal action within time. 10 years have passed since you gave the money to your friend. You have no case now against him.
Even a criminal case cannot be filed now. Forget the amount lent as a bad debt.
Any civil case for recovery of the said money has now become barred by limitation.