Legal Question in Credit and Debt Law in India
Dear Sir
My Father give Rs-500000.00 by A/c payee cheque to a relative in 2007-2008. My father has been expired on 12,december,2009. above relative neither give interest nor principal amount.I want to know that can i recover money through legal way ?
4 Answers from Attorneys
29.03.2013
Dear Sir / Madam,
(Naranpura Vistar, Amdavad, Gujarat)
You will need to have substantial documents to show that your father had loaned the amount to your relative and that your relative had promised to repay the sum back to your father. You will need to issue a written reminder to your relative to repay the amount, failing which you will have to file a case for recovery.
Regards,
FCA Prashant Chavan
Mumbai
(You can also mail me for any further on-line advice at [email protected])
oops! Iam sorry. There is a big hurdle in terms of statue of limitation of three years in your way. Only way out is if there is any acknowledgement signed by the relative after the death of father and three years have not yet passed.
Limitation may be an issue and also the documentation, what you have to prove the loan.
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