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I transferred ₹25 lakhs to my friend to help him with his business. I took a personal loan for this and have already paid four EMIs. Now, he is not responding to my calls and has blocked me. He keeps making promises like “I’ll return it today” or “definitely tomorrow,” but he never does. I’m now facing serious issues with the bank because I cannot make timely payments. What legal action can I take?
Send him a legal notice first, asking for repayment with proof (bank transfer, messages). If no response, file a civil recovery suit and also a criminal complaint for cheating under Indian law. Since it’s a personal loan, you have the right to legally recover your money with interest. For further legal assistance contact us on our helpline number.