Legal Question in Credit and Debt Law in India

I gave Rs.150000 in the form of loan to my friend online in his account. He is running a led company.in guarantee he gave me 30000 equity in the company.that time company was registered.he committed to repay the money with interest of 15% yearly.but now he is not paying any interest or my money.he is in delhi I am in kota.how I can take any legal action.


Asked on 10/22/13, 12:42 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

22.10.2013

Dear Sir / Madam,

If the shares of the Company are transferred in your name, you should recover your money by selling those shares in the market. If not, you should report the matter to the Police to recover your money loaned to your friend.

Regards,

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Answered on 10/22/13, 3:24 am


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