Recovery of money lent
2 months ago
I lent Rs. 15 Lacs to my relative for 6 months and got documented as notarized agreement. Now, he has no intention to repay. Will you respected lawyers be kind to let me know what remedy i have to get my money back.
Is there any provision to get his immovable property attached?
My lawyer has prepared a petition under section 20, 34 and 38 of Specific Relief Act. Is it going to work?
Thank you so much in advance
Best Regards,
Raj
A.You have not given all the clear details like from which state you are, you have given the 15 lacs to your relative but have you given it from your own bank account if it is then the details are required, if you have given by cash then forget about it also the agreement made by you should be having all the terms and conditions which you have not mentioned in this question also you should have 2 witness who are willing to come to the court. The documents which you are notarize are actually valid but as your opposite party is having no intention to pay. you should be sure that the opposite party is having the property worth of more than 15 lakh rupees then only it will be better for the summary suit also there are other ways to get your money fast by special legal notice by experienced lawyer.
A standalone agreement on stamp paper may not be sufficient to support your claim against the borrower, unless it is backed by a promissory note or a post-dated cheque issued by the borrower as a guarantee for the repayment of the debt. In the current situation, as advised by your counsel to pursue a civil suit under the Specific Relief Act, you can proceed with the recommendation. However, the court's decision on granting specific performance is solely at its judicial discretion. The court will thoroughly assess all the facts and circumstances of the case and is not obligated to award specific performance merely because it is legally permissible.
A standalone mere agreement on stamp paper may or may not support your claim against the borrower unless it is supported by a promissory note or a post-dated cheque issued by the borrower as a token of assurance of refund of debt. However, in the given situation, as opined by your counsel for filing a civil suit under the Specific Relief Act, you may go ahead with the suggestion but the decision entirely depends on the judicial discretion of the court as to decreeing specific performance. The court may meticulously consider all facts and circumstances of the case and is not obliged to grant relief of specific performance merely because it is lawful to do so.
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