Bengaluru | 21 Oct, 2017 (2 years, 8 months ago)

Contracts & Legal Documentation / Agreements

money recovery based on promissory note

I gave 10Lacs loan to my uncle and received promissory note. this pronote for 10 Lacs was executed in 50rs stamp paper, in which father and his sons agreed that: when I demand the loan amount, if they don't have money to repay, they will sell their assets and pay my loan. Can this be considered as valid Loan agreement? When I actually asked him to return money, he gifted his 3 properties to daughter and filed for insolvency. After he made gift, I issued lawyer notice to him to pay my loan amount, then I filed money recovery suit. He did not fulfill the loan agreement. he gifted his assets. I have EC showing the gifts to daughter. I have certified copy of this gift deed documents. I have lawyer notice copy and plaint copy of money recovery suit. I want to give criminal complaint in police station. this comes under what section of Cr.P.C? Please suggest me.

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