I lent Rs. 20 lakhs to someone a few years ago, promised an interest rate of Rs. 2.50 per rupee. They returned only Rs. 7 lakhs and owe me Rs. 13 lakhs. They haven’t paid any interest, and the pending interest is now equal to the principal amount. The only proof I have is a cheque from 2010. How can I get my money back?

Apni Law
Apni Law
Law Forum › Category: Cheque Bounce › I lent Rs. 20 lakhs to someone a few years ago, promised an interest rate of Rs. 2.50 per rupee. They returned only Rs. 7 lakhs and owe me Rs. 13 lakhs. They haven’t paid any interest, and the pending interest is now equal to the principal amount. The only proof I have is a cheque from 2010. How can I get my money back?
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Apni Law Staff asked 3 years ago

I lent Rs. 20 lakhs to someone a few years ago, promised an interest rate of Rs. 2.50 per rupee. They returned only Rs. 7 lakhs and owe me Rs. 13 lakhs. They haven’t paid any interest, and the pending interest is now equal to the principal amount. The only proof I have is a cheque from 2010. How can I get my money back?

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Best Answer

Apni Law Staff answered 3 years ago

You can file a civil suit for recovery of the principal and interest amount. However, your claim may be difficult to prove as the cheque is an old document and there is no evidence of the agreed interest rate. You should consult a lawyer to understand your options and proceed accordingly.

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