Legal Question in Credit and Debt Law in India

I am an amateur day trader, one of my friend gave me Rs 55000, as I was successfully trading last year i.e 2014, ask me to double the amount in 6 months without a written document I just verbally promised her if the project is not successful I will return her investment after 6 months. Unfortunately I lost all the money and I ask further extension of 6 months .She doesn't agree and keep on calling me and threatens me that in the next few days I will get a legal notice from her lawyer.. please help


Asked on 7/17/15, 1:25 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

17.06.2015the

Dear Sir / Madam,

Your remain legally liable to repay back the principal amount to the lender on the completion for the six months period.

Regards,

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Answered on 7/17/15, 1:32 am


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