Legal Question in Credit and Debt Law in India
I had given a loan of rs 9 lacs to my cousin brother in his mother's name ( who is 82 yrs ) by a dd payable at delhi in the year 2008.in good faith and due to relation and since she is aged i had not filed a legal case but taking advantage of this my brother is not giving back my money.can i file a case on my brother or i have to file a case on his mother only, is time period matters in legal action.should i give a legal notice to both of them.can my money be recovered as there is no agreement for this loan but i have sufficient evidence of amount given.
1 Answer from Attorneys
28.09.2013
Dear Sir / Madam,
Since you have given the loan to your cousin brother's octogenarian mother, she is responsible to repay it back to you. It makes better sense to elude your cousin brother and directly tell your cousin brother's mother to repay it back immediately to you with simple interest @ 18% per annum from the date of realization of your cheque till the date of the she giving you a cheque in repayment of the loan amount. Tell your cousin brother's mother clearly in your letter to her, that if she fails to repay the loan amount within 10 days, you will report the matter to the Police. After a week, should you not receive the cheque, lodge an FIR against your cousin brother's mother in the Police. Re-post query if there is no Police action within three days of your lodging the FIR.
Regards,
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
