► A person gave a friendly loan of 50k to a person and took blank cheque the money he lended is his own money from retirement money and now he sent a notice through advocate that the borrower owe him 2 lakh rupees and stated the borrower as a fraud if he is stating that the borrower owe him 2 lakh rupees may this amount is a summation of intrest amount if yes then according to money lending act intrest amount is taken on annum basis(yearly) and the borrower took the money since 2 yrs and while giving money he didn't stated the exact intrest percentage and India a maximum limit of interest may be under 30% per annum so how he can claim 2 lakhs rupees
Pls somebody help
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