Unsecured loan

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RAHUL TOKARSHI MARU (Querist)
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14 October 2011 i have given unsecured loan from my father account to my Friend in his Father Name ( amount was given in cheque) mutual agreement not anything in writing.

My Friend is not Repaying Loan and Interest

How legal way i can recover Amount.

CMA Ashutosh Kumar Gupta

CMA Ashutosh Kumar Gupta (Expert)
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14 October 2011 To initiate the legal action-legal relationship is to exist.
In your case circumstances, corroborative evidences need to be gathered, traced back that the person to whom you transferred the money has also requested you for that money.
Anyway, please solicit others opinion too.

RAHUL TOKARSHI MARU

RAHUL TOKARSHI MARU (Querist)
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14 October 2011 i have Bank Pass Book Record That i have Given MOney ( name is reflecting in Pass Book)

Given Notice of Demand Loan and Interest Amount of 2 yeasr With Supporting Pass Book Proof.

No Response From Party. now What NExt Step To Recover Unsecured Loan

CMA Ashutosh Kumar Gupta

CMA Ashutosh Kumar Gupta (Expert)
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15 October 2011 better to take a lead, you can send a legal notice from your lawyer claiming the loan given and recovery of the same with interest attaching therewith the proof of payment made.

Jagga Rao Malipeddi

Jagga Rao Malipeddi (Expert)
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16 October 2011 The cheque is given from your father's account to your friend's father. The creditor-debtor relationship is between your father and his father. Hence your father should demand repayment from the debtor quoting the amount is paid at his request through the cheque and the it is not being returned. He must have taken payment of the cheque. If there is no proper response from your friend's father, arrange to issue a legal notice on behalf of your father. You have not mentioned whether you people have contacted your friend's father for repayment.

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