Unable to recover friendly loan given to a known person
Hi Sir / Madam,
My Name is Srinivas Potnuru, from Hafeezpet, Miyapur, Hyderabad, Telangana, India.
This is to let you know that in the month of Dec 2018, I had given a person 3 Lakh INR as a friendly loan, and agreed for 2% interest, also we agreed that money will be returned in max 1 year along with interest amount.
I have given him money in form of Cash, and as a safety measure I have blank cheque with his signature. I understand that it was difficult time for everyone during Carona time, and I have waited for 6 more months that agreed timeline, but now it is almost 10 months post the deadline to return the amount with interest.
We had a similar transaction earlier and he has returned that time, so with that confidence only I had given him money this time as well.
Since 4 months I keep calling him, but he will just say I will give in this month or next month and has never returned even a single penny till date and continues with excuses. I am really fed up now and I am in need of money.
I wanted to discuss with you to see how we can take action in such a way that I get my money back with agreed interest amount.
In case of any more queries, please do let me know, I am happy to provide details.