Questions Legal

How to get money back from a friend legally in India?

Airtract

Akash Mehta

I am a believer

Since we all live in a convivial platform, it becomes imminent to assist your friends or family in their fiscal crisis by lending money under particular circumstances. Some of them will return the amount before or on the prescribed date, which leaves no tension between both. But if the person denies or lags in returning the lent money, it becomes a subjective and financial quandary between two.

So to avoid such crucial events, it is always advisable to take precautions while lending money to your friend as a step of consciousness. Certain aspects must be pulled into your concern while giving money to someone like a 'promising note'. A promising note is a liable document formulated at the time of lending money to someone under the permission and consents of both the parties. The note must be a convergence of all the conditions and protocols concerning the agreement to which both the parties are bounded. This document will invariably assist you in verifying your claim over your non-returned sum of money.

Steps to claim your money from a friend

1. Make sure you are liable to approach the court

You can accost the court petitioning for considering your grievance only when you have a valid document confirming that you have lent money to the particular person, and he is liable to return it.

2. Assuring there is no prosecutable concern present

Make sure that there is no hindrance in court affirming the summary suit submitted by the lender due to unresolved disputes regarding the promising note, acceptance of borrower regarding lending money, etc.

3. File a summary suit

The summary suit comprises of 2 declarations made by the lender or loan provider. They are,

  • A particular affiance that says the lawsuit is filed below the 37 of CPC order.

  • No relief which is beyond the ambit of the order is asked as a final relief. The return requested or expected would not exceed the actual sum of money lent.

4. Summoning the lender and borrower

Once the summary suit is submitted, the court will summon the borrower to notify him about the issue and go through questioning. If the borrower doesn't respond, the borrower will be declared to return the money, as mentioned in the agreement, without a second trial.

5. Judging from court

If the borrower has a strong defense, he will be given leave to present and explain his side regarding the case. In the absence of defense from the borrower, the case will proceed as per the lender. Considering all the evidence and statement, the court will issue the final order after hearing.






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