Legal Question in Credit and Debt Law in India
One of my friend took a loan of ₹50k from a kabuliwa and he is not given not even interest from last 16 months. Now the kabuliwa has threatened that he will suite FIR against my friend. My question is that can the kabuliwa do FIR in this regard. What should my friend do in this situation as he has no job right now
Asked on 8/11/17, 6:20 am
1 Answer from Attorneys
Taking loan and non payment of the interest is a civil wrong arises out of a contract so kabliwa can recover the loan amount and interest, cost by filing recovery suit.
Answered on 8/15/17, 1:18 am
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