My Friend has borrowed money and absconded,his father ignores it
Hello sir, Good Day!!
I have lended money to my friend who is a age of 23 - 24 , we have been childhood friends as well.
My friend said that we would require money to move abroad and since he was a well known friend I Lent him a money of 1.6L with a rate of interest 3%, for which we have made a promissory notes as well.Now its been long time my friend has not stick to the commitments and he gives all fake promises.We even went to his home and told about the situation , his father says he is not responsible to pay money , says has no idea on this son's address.I want to know how can the money be recovered and since I hold NO Licence is it legally correct to give my friend money ? Can I approach Police and file FIR, his father threats not to ask his son's address and if he commits suicide you would be responsible for it, and also he would file a complaint against us ,since we are asking him to pay the expected money,could you pls guide us on my money recovery.Thanks you soo much for spending time.