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MONEY RECOVERY SUITS

Money recovery suits

You can send a legal notice to the defaulter. Once the person receives the notice, he or she has until 15 days to make the payment to you. If they fail to do so, a complaint can be registered with the court in the prescribed format or file an FIR.

The procedure for money recovery:

  • The first step in the process of money recovery will be to a send a legal notice to the defaulter.
  • If you still don’t receive the payment, you can go for one of these options; Summary Suits, Negotiable Instruments Act, Criminal case or Insolvency and Bankruptcy Code.
  • Our expert lawyers will guide you through the process to help you decide the best option.
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This order is applicable to

  • All the suits upon bills of exchange, hundies, and promissory notes.
  • The suits wherein the plaintiff seeks to recover a debt payable by the defendant, arising either on a written contract or on an enactment where the sum sought to be recovered is fixed or on a guarantee where the claim against the principal is in respect of a debt.
  • A suit can be instituted under this order in High Court, City Civil Court, Court of Small Causes or any other Court notified by the High Court.