What legal actions can I take for unpaid loan principal?
I gave money to my friend as a loan with interest, and they paid the interest monthly for 5 months. After that, they blocked my number, moved to a different house, and are now refusing to pay back the principal amount. I have already paid the amount they owed, but they did not pay the interest for the last 4 months or the full principal amount. I have voice recordings and online transaction evidence. What can I do in this situation?
Since you have evidence of the loan through online transactions and voice recordings documenting the agreement and partial repayments, you can file a civil suit for recovery of money under Order 37 of Civil Procedure Code (summary suit) in the appropriate civil court having jurisdiction. Additionally, if you can establish their intention to cheat from the beginning, you can file a criminal complaint under Section 420 of IPC with the local police station, using your evidence of their pattern of initial payments followed by deliberate evasion.
Sir, despite multiple demands if your friend is refusing to return your money then you may consider sending a legal notice for money recovery with the help of an expert lawyer who will assist you to file a civil suit in court of law. For further legal assistance contact us on our helpline number.
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