I am nri living in kuwait.given loan to brother of 59 lacs in Jun 2014 without any written agreement on credit of Father, as he says I will take care of any default happen. All funds transferred bank to bank from my Ac to brothers acc. Brother repaid all of his loan from my money and now says you have more asset in parental property so I will not pay your money. Father washed his hands and said I can't help. I am in deep trouble how to recover my money legally Let me advice how I can take my money back.
Hi, First pls let me clarify that whether your brother repaid the amount through cheques or online payment then it is very difficult to recover the amount he can take the defense that he has repaid the amount.
2. If not the case then you can file a suit for recovery of the amount as you have proof to show that you have paid the amount through bank only.
3. Before filling a suit first you have to issue a legal notice and then proceed.
1) issue legal notice to your brother to repay your loan within period of 15 days from receipt of legal notice
2) if he fails to pay file suit for recovery of loan amount with interest
3) you can also file criminal complaint of cheating , criminal breach of trust against your brother
First you have send a lawyer notice to him demanding the return of money . If you get a replay notice from him then you may file suit taking contentions formulating as per his considering . The evidence of bank transaction should produce along with your application.
You do not have a written agreement with your brother or father, so the only documentary proof would be the bank passbook entries showing transfers to his account. You can thus file a lawsuit for recovery of money with compensation against your brother. No remedy is however available against your father as he was not a beneficiary of the loan. Before going to court issue a lawyer's notice to your brother.
I know his all loan bank account numbers as well as he paid via cheq to three different accounts, with in week after receiving money from me. I have mail communication as a proof that he accepted that he owns the loan. May be by the notice of court I can get all loan statement from respective bank as proof.
Hi, Based on mail communication you have to file a suit for Recovery of the money. And as per law it is sufficient to prove your case.
1) transfer of funds has been done by you to your brothers account
2) your brother cannot deny receipt of funds in his account
3) further brother has acknowledged receipt of loan
4) file summary suit for recovery of loan amount
Dear Querist
Issue a legal notice and demand your money if he is not ready to pay the amount within notice period then you may file a civil suit for recovery before civil court.
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The communication apart from passbook entries can also be used as evidence. Issue a lawyer's notice to him
I am in deep trouble how to recover my money legally
Let me advice how I can take my money back.
It may appear to b tricky but you can first send a legal demand notice asking him to repay the amount, failing reply or respond properly you may drag him to civil court for recovery of money on the evidence of bank transactions.
This will certainly make him to think about the issue very seriously after which he may come down for any negotiated settlement.
I know his all loan bank account numbers as well as he paid via cheq to three different accounts, with in week after receiving money from me. I have mail communication as a proof that he accepted that he owns the loan.
May be by the notice of court I can get all loan statement from respective bank as proof.
If you have details of all his transaction including the loans he had availed, it will be useful to contest in the court and try to retrieve your property.
In the money recovery suit, you may even attach his property before judgment as security towards the amount.