Legal Notice for Recovery of Money

Legal notice for recovery of money are crucial before taking legal action against the defaulter. By filing the notice, the aggrieved party tries to ensure his part of the grievance to the person on the other side. In case of recovery of money, the person tries to make out his money from the other. The aggrieved person tries to put his case before, the person who had taken the money, now hesitating to return it to the other, even when demand for the same had been made several times. Usually, people send the notice to another side when they are left with no other choice than to take the legal course of action. To make the person understand in clear terms that if desired, the action did not act performed in the specific period mentioned in the recovery of money legal notice, then will start proceedings in the court of law. In simple words we have various types of legal notice, we can put it like when we let money to someone for use or in the hour of need, out of love for them but we do need that back when they are in such a position to give it or when we need money, there can be different situation involved in the particular event. When any person or entity’s money got into the hand of another, they are trying hard to get it back but failed because of one of the other reasons. In those cases, legal notice format with the assistance of some expert advocate is framed and dispatched to the other side. Let’s get through some situations when the need for Legal notice for recovery of money arises: Although, there can be a variety of situations under which the need of sending a notice arises, here we are taking some of the instances for better understanding. Sometimes, the tenant does not show up for paying the rented amount, in such cases, the landlord, it becomes very difficult, to get the huge sum he had accumulated because of non-payment of due rent. Which he/she is entitled to pay. If the tenancy involves the Legal notice for recovery of money , the lease of the premises then in those cases, the landowner got the entitlement to send the legal notice demanding the payment of the money due. The owner of the premise also has the right to file the suit for the specific performance of the contract which will be governed by the specific relief act and Indian Contract act. The owner in the case tenancy had a different remedy under different legal provisions it depends upon his discretion where he wants to file his suit to get the remedy. In the case where, an employee is entrusted with money and he misses use the money or absconds with it, then the company or entity as the case may be, will start a departmental inquiry against the person concerned, will send him/her the legal notice Format to show -cause at his /her registered address. Even if he does not respond within the time, then it would result in disciplinary action as per the standing order or service regulations of the organization. When it is proved that he had malice then, legal notice for recovery of money is sent to him. If any employer fails to pay the employee, then the employee got several remedies under the law. if the employment is governed under the labor laws then, they can approach the labor court to sue under the payment of wages,1936, or the Industrial dispute act,1947. If the employee does not fall under the labor law, such as being executive or manager then, he can seek remedy by sending legal notice for recovery of money under order 37 of the CPC, for filing of the summary suit. In the case where the employer had fraudulently deprived the employees of their salary, then they can file the case under the Indian penal code 1860 and section 447 of the companies act. The most common way can be used, is sending legal notice for the recovery of money, which can be accepted or rejected with the reply. In the recent past due to defaulting on huge amounts of money, now the government of India had become extra cautions whiling granting loans because the economy of the country is getting affected because of this, The Securitisation and Reconstruction of the financial assets and enforcement of securities interest act 2002 were introduced to recover debt under the separated judicial body. In every state special debt recovery tribunal had been established, so that matters about that can be resolved quickly, the step that is taken by these tribunals is sending Legal notice for recovery of money to the defaulting party to show -up the case. In business dealings, the products use to send their goods in the market through the distributors, keep the security deposits from them, in form of post-dated cheques, in case the cheques got bounced due to lack of funds in the account of the drawee then, got the remedy under section 138 of the NI act, which initiates by sending the legal notice for the recovery of money to the other party. To avoid problems in the future regarding Legal notice for recovery of money, while giving a loan to any of your friends or relatives to need to prepare two instruments that are promissory notes or agreements of loan. If you are doing so then in that case are going to get benefit out of that. You can also send a legal notice for the recovery of money to your close ones. Therefore, we can in simple and understandable terms, says that there are various legal provisions under which, we can take remedy according to the facts of the case. The criminal remedy is available under section 406 criminal breach of trust, section 420 cheating, and mischief under section 426 of the Indian penal code. Above mentioned all remedies become automatic when the legal notice for recovery of money is sent under the appropriate law applicable to the facts of the matter concerned. The Legal notice for recovery of money must contain the following mentioned elements. It is always better to take the help of an expert, since the inspection of the legal notice. In the initial stage, you need to take care of things so that unnecessary can be avoided. To prepare the legal litigation document, a great number of skills, expertise, and understanding of the law and material facts are required, to prepare comprehensive and precise legal notice at the same time, the lawyer has to gather some details from you, which are very curial in framing legal notices. Therefore, while engaging the lawyer, you need to ensure that need had good drafting skills and expertise in the related field. The Legal notice for recovery of money can be sent by any person, at the initial stage of the conflict these are in most cases sent to avoid litigation, and another reason can be to let the defendant in the suit know that, the person aggrieved is now going to take the help of the judiciary to get his affected rights to be restored. The notices allow the opposite party to know what the matter was because sometimes, the defendant is not the person who had done something wrong on their own, it allows him /her a reasonable opportunity to settle it down beforehand, without getting into unnecessary litigations. Whenever you are filing a Legal notice for recovery of money, do get expert advice or get it prepared by them. Do not forget to mention the date on which the cause of action had been raised, which this suit is barred by the limitation period. Why Need For Sending Legal Notice For Recovery Of Money Arises?
Tenant :
Employee:
Employer:
Legal notice for recovery of money under the loan :
Dealers:
Taking money back from Friends:
What will be the contents of the legal notice for the recovery of money?
How advocate can assist you in case of legal notice for recovery of money?
What will be the role of the legal notice format for the recovery of money?
Conclusion :