Legal Question in Credit and Debt Law in India

Sir,

My father had given a loan of Rs.2.5 lakhs to one of his office colleague (Govt. employee) and had the same written on a Rs.50 stamp paper with nottary attestation but no cheques were taken from him. Now my father has retired.

The loan was given nearly 6-7 years ago. The person had returned nearly 1 lakh from the loan amount in the course of last few years but an amount of 1.5 lakhs is still due with him and now he does not take our phones either and does not want to pay.

What action can be taken against him to get our money back ?

We are living in India.

regards


Asked on 3/21/16, 12:57 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

21.03.2016

Dear Sir / Madam,

Your father should inform the office colleague to repay the balance outstanding money back to your father within 15 days informing the office colleague in this letter that if he fails to repay and settle the entire outstanding dues, your father will and should report the matter to the local Police for intervention and quickly resolving the issue.

Regards,

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Answered on 3/21/16, 10:01 am


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