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.