Friend not returning money
3 months ago
Hi Team,
I had given 2.9L to a friend in Jan last year as he was in urgent need of money. He said that he will be returning the money in few days. As I did not receive any amount from him for few months I had sent him a legal notice in December. He said he will be returning the money by Jan end. Now yesterday he said he cannot pay the full amount now and has instead sent 50k. He promised to return remaining money by April end. Now my question is what should be done in this case. Should I wait or should I take the further action against him. P.S. I have the money transfer proof as it was done online only. Also as I met him online I do not have any personal details of that person apart from a phone number and email ID.
In the absence of any contract or agreement or a promissory note supporting your transaction as a loan given to your friend and also in the absence of his identity particulars, the chance of getting the outstanding loan back from your so-called unknown friend appears to be almost impossible even through litigation. However, since it is a big amount you can try your best to recover your loan from the borrower by filing a money recovery suit against him which may cost you more apart from other consequences.
You may file charges against the person under Section 420 of IPC. You may bring a case under Section 406 of the IPC for Criminal Breach and Section 420 of the IPC since the other person had to lend them money in order to deceive you. You may also file a civil suit under CPC order 37, which permits the party to bring a summary suit. You can also choose an out of court settlement such as mediation or arbitration.
Further, you can get the person's details through your local police and providing the online details of the person.
Thank you
You may approach police to trace out his address there after at lseat get post dated cheque because he may say your amount was returned in cash
You may approach police to trace out his address there after at lseat get post dated cheque because he may say your amount was returned in cash
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