Money suit for recovery of unsecured loans
This query is : Resolved
12 February 2023
Sir, One of my client Mr.A had paid Rs. 20.00 Lakh to one Mr.B as unsecured loan vide bank transaction during FY 2012-13. Can Mr.B file a money suit against Mr.A for recovery of said loan. If yes, what proof Mr.B will have to submit in the court ? Whether mere bank transaction will serve the purpose ? And what will be the cause of action for the suit ?
13 February 2023
Yes, promissory note may be required.
Any letter requesting payment will help.
Any letter requesting payment will help.
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