Legal Question in Credit and Debt Law in India

I have given Rs two lacks to my friends for their business development by cheque on verbal condition that they will pay me back with good return .Now they says everytime I ask that their business is not running good, presently one of them turns his face as he does not know me . I have visited his house and brought to their parents knowledge.Both the brothers are in business and involved , they run at least two buses and a lorry with building material business as far as my knowledge goes.How can I get back these money .


Asked on 7/06/13, 7:40 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

07.07.2013

Dear Sir / Madam,

"Good return" is a vague phrase if it is not specific as to the time frame within which the principal sum of Rs. 2 lakhs should be returned with interest for the period for which the money was given, back to you. If the brothers are delaying the return of your money citing reason that their business is static, you should ask them to admit you as a partner in their transport contracting business.

Regards,

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Answered on 7/06/13, 8:09 pm


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