Failed in committment of repayment of principle with interest invested in conditional stock market business without agreement
1 Answer
Dear Client,
Even without a formal written contract, you can pursue civil recovery of your money using evidence such as bank transfer records, WhatsApp Messages, the plain paper note explaining the business plan, call logs, details of the account and other relevant documents as proof of the transaction. If he never intended to repay or diverted funds to his brother’s account dishonestly or with wrongful intention, you may have grounds to file a criminal complaint under the Bharatiya Nyaya Sanhita, 2023.
A suit for recovery of money under contract is governed by the Limitation Act, 1963, and the general limitation for suits based on debt is three years from the date when the cause of action arises. If instalments were promised monthly and he defaulted earlier, the clock starts from each due date. Your first step must be to send a lawyer’s demand notice demanding payment. If this does not work, you may file a writ petition, asking for interim relief such as attachment of movable property or an order for interim payment. If you have any further queries, please feel free to reach out.