Lawtendo helped me in recovering my dues from one of the business partners by sending a legal notice with the help of an experienced lawyer at a very affordable price
What is a money recovery suit?
A money recovery suit is a legal remedy available to recover the debt due to the defaulter. This civil suit acts as an effective tool to recover money. It is generally in the nature of summary suit (Order 37, Code of Civil Procedure) which offers expeditious disposal of the suit as here the defendant is not entitled to defend as a matter of right but only after applying for leave of the court, he can defend. Apart from this, an ordinary civil suit under the Negotiable Instruments Act, 1881 can also be filed if the money was specifically borrowed via cheques or other bills of exchange instruments. Cheque bounce cases are also filed under the same Act.
Why do you need a money recovery suit?
One can recover the debt owed by filing for a money recovery suit in the appropriate civil court. This can be done by filing a summary suit that helps in speedy disposal of the case or under Negotiable Instruments Act, 1881 where the money was borrowed via bills of exchange instruments. The limitation period for filing a summary suit is 3 years, while under the NI Act, the limitation period is 30 days from the expiry of the notice period.
Collect all the necessary documents pertaining to the bad debt.
A legal notice or demand notice needs to be sent to the defaulter to make him aware that if he does not pay the money 15 days then legal actions will be taken against him.
If the amount is still not recovered, a summary suit or an ordinary civil suit under the NI Act, 1881 can be filed in the civil court.
The procedure for the collection of documents and sending the legal notice may altogether take 8-10 days. After sending the notice, within 15 days a reply can be expected otherwise case proceedings shall begin in the court.
Original bill of the claim
Agreement from which the liability to pay money arises
All documents and communication between the creditor and defaulter (written or verbal) that support the claim.
consultation with domain expert lawyers
4,500+ consultations facilitated
Dedicated case managers
15,000+ empanelled lawyers