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Legal Notice For Recovery Of Money Format

  • Writer: Lead India
    Lead India
  • Aug 3, 2023
  • 3 min read

A legally binding notice between two parties alerting the other party before action in court is taken to obtain their due payment is known as a legal notice for money recovery. Unbelievably, if a friend owes you a lot of money, you can also issue a bank legal notice for recovery of money. The function and significance of legal notice for recovery of money become significant when trying to collect money from persons who owe it to you.

Legal Notice for Money Recovery: Importance

Anyone who owes you money can be served with a notice for the purpose of recovering it, including your employer, friends, and others. Issuing a legal notice ought to constitute the first action in the recovery process because most recovery cases are resolved without any requirement for judicial involvement.



Sending a well-written, legally sound notification is essential if you want to receive a prompt response to it and stand the best possibility of having your money back.

Legislations Pertaining to Recovery of Money

The legislations pertaining to recovery of money are as follows-

  • Indian Contract Act- If anybody commits fraud or makes false statements, or if an indemnifying party is unable to carry out the contract in the event of their own insolvency, Section 73 of the Act may be taken into account because of its requirements for awarding loss damages for contract breaches.

  • Insolvency and Bankruptcy Code (IBC) - The proceedings or lawsuits for the recovery of money may also be filed under IBC where defaulters are rigorously tested within a short period of time less than a year.

  • Negotiable Instruments (NI) Act- This act primarily focuses on situations where you're seeking to recover your money from your employer after a cheque they sent gets bounced. Because drawing a cheque that will bounce indicates that the drawer had no intent of making a payment, hence Section 138 of the Act penalizes the drawer and subjects him or her to both criminal and civil punishment.

  • Indian Penal Code (IPC) - Several provisions of the Indian Penal Code's Penal Laws offer remedies to those whose money has not been recovered for one reason or another.

Legal Notice for Recovery of Money: Key Ingredients

Included in the legal notice for money recovery must be:

  • The legal notice must be written correctly and concisely on the lawyer's letterhead.

  • It must contain both the phone number and address of the lawyer.

  • The legal notice must include the recipient's name, place of residence, and contact information as well as the date when it was issued.

  • Since the client is the one providing legal notice for the money recovery, the client's full name and contact details should be provided.

  • It must be clearly stated in the notice how the other party's act or omission violated your rights and what remedy you are seeking as a result.

  • Both the advocate and the person who sent it must sign the notice (along with the date).

Legal Notice for Money Recovery: Documents

The documents that follow must be carefully reviewed before filing a legal notice for recovery of money-

  • Affidavit of proof of money owed to you or that was lent to you

  • An employment contract that specifies the amount your company is to pay you in exchange for your service if recovery from the employer

  • Proof that your money is not recovered yet

Legal Notice for Recovery of Money: Procedure

  • There is no set procedure for writing a legal notice with the aim of recovering money. However, a formal notification must be in writing, have a lawyer's signature, and include all the information. The lender should review the notice after it is drafted. The defendant should then receive it.

  • A recovery lawsuit against the defendant may be brought in the appropriate court if no further action is taken or no restitution is made within the period specified on the notice.

You will need the help of lawyers to draft a legal notice for not returning the money. The lawyers can also help you in drafting the legal notice for the recovery of money in the Hindi language. Similarly, the lawyers can also help you in drafting an online legal notice for the recovery of money if and when necessary.

One can talk to a lawyer through Lead India for any type of legal advice. In India, free legal advice online is accessible through Lead India. Along with obtaining free legal advice online, you can also ask questions to experts online free at Lead India.


Call Us: +91–8800788535

Email: care@leadindia.law


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