How to collect the loan amount ? கடன் பெற்றவர் கடனை திருப்பி தர மறுத்ததால் பணத்தை எப்படி வசூலிப்பது?

Usually if you lend to someone you have to repay it within three years. The Limitation Act stipulates how many years each issue must be prosecuted. Accordingly, he has only three years to recover the debt or to sue him for non-repayment of the debt. But there are some rules for when these three years begin.

Let's say someone borrowed from you as of 5.7.2019. If he has paid interest or a small amount on the principal once in the next three years then the period of three years will start from the date of his last payment.

Similarly, if you write him a letter of refund stating that he will return the money on this date, the three-year period will begin. This is called "Acknowledging the Debt". The letter you write is not important here. The answer letter written by the borrower is important.

If you have not given any letter recently agreeing to the loan and you want to sue in civil proceedings, it will only happen if you buy him a letter on the current date to confirm his loan, or if he is currently buying a small interest on the loan. It is difficult to pursue a civil case if these are not possible. But he can be criminally prosecuted for cheating you out of money.

சட்ட ஆலோசனை மற்றும் சட்ட உதவிகள் தேவையா?

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With Regards
P.PANDIAN,B.,A.,B.L., PGDFM., PGDPT.,
Advocate
Commissioner of oaths
Madras High Court
Contact No. +91 8838447683/+91 73051 87737
Website: www.taiiyakkam.com
E-mail: [email protected]

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