Loan repayed claimed as Loan given
Sir,
I have given hand Loan of Rs.400000 to my brother in cash. He has returned the same by sending the amount to my Company account. Now he has gone to the court saying that the he has given me the loan of Rs.400000 and gone to the court asking me to return the money with Interest.
But there is nothing in writing for this transaction.
What shall i do?
Regards
Suresh
Bangalore
Asked 11 years ago in Civil Law
I have not declared the loan in my accounts since it is my drawings from my company. My brother has also not accounted.
I have informed the court that he has taken money from me and returned to me to my company account in online transfer.
My brother is showing the online transfer money is the loan given to me.
Asked 11 years ago
Myself and my wife are the Directors of a Private Limited company. Both of our drawings are more than 10 Lakhs per annum. From that I have given my brother that money.
Asked 11 years ago