Legal Question in Credit and Debt Law in India

Dear sir/madam, I have given 2.5 lakhs to one of my friend and had taken a promissory note signed on a revenue stamp and 2 empty cheques from him and he is a central govt. Employee. Now unfortuantely the person committed suicide because of personal problems in last week and now I am in dilemma as their family persons are not willing to pay back the amount despite getting their settlement amount from the govt. My question is whether the pro note is valid to stop the settlement amount ? And how should I proceed further. Plz advice me.

Regards

Kumar


Asked on 11/16/15, 5:08 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

17.11.2015

Dear Kumar,

The Promissory Note cannot hinder the settlement amount, However, if the promissory note specifically mentions that the heirs are also legally liable to settle it, you can pressurize the legal heirs to pay you, else you can file a recovery suit against them,

Regards,

Read more
Answered on 11/17/15, 3:02 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in India