Legal Question in Credit and Debt Law in India

collection of outstanding dues

one person owes to our partnership firm a sum of rupees 5,90,000|= on account of petroleum products taken by our petrol pump. Now he plays with us that he will give the money when he is able to give,which is false. He is capable of giving money and he owns as many as 15 trucks which are with no loans attached to. I want to know how can i get my money back and what time frame and requisite fees will be required for such claim?


Asked on 11/30/08, 6:31 am

5 Answers from Attorneys
SHIVA SHANKAR REDDY M/S S&S LAW FIRM

Re: collection of outstanding dues

BEFORE YOU NEED TO RECOVER AND FILE A SUIT WHAT IS THE MATERIAL RECORD AVAILABLE WITH YOU IS QUESTION OF IMPORTANCE WHICH IS VERY PREREQUISITE OF THIS RECOVERY.SO CHECK OUT YOUR AVAILABLE MATERIAL RECORD TRANSACTION I.E., FROM THE DATE OF INITIAL TRANSACTION TILL TO DATE.

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Answered on 11/30/08, 11:01 pm
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

Re: collection of outstanding dues

in case you are in possession of proper invoice and challans, u may file a suit for recovery u/o 37 of civil procedure code and your recovery would be made expeditiously without waiting for years together.

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Answered on 12/01/08, 3:31 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: collection of outstanding dues

You may need to file a recovery suit in the civil courts. Depending upon the evidence available with you, the case may take about one or more years. But meantime, you may seek attachment of his properties which should cover the loan amount. The attachment order may be granted by the court immediately on your filing of the case.

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Answered on 11/30/08, 6:36 am
Nasir Butt Nasir Law Associates

Re: collection of outstanding dues

You may file either recovery suit with a petition for attachment of borrowers moveable or immovable property; or insolvency suit against borrower.

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Answered on 11/30/08, 7:18 am
Homi Maratha N.N. Maratha & Co.-Advocates

Re: collection of outstanding dues

File a recovery suit in the civil court with attachement of his properties.

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Answered on 12/19/08, 4:31 am


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