You are accepting that you have taken loan from that company for purchase of a Car. Eventhough they have not entered in any form of loan agreement between them and you, don't you feel, it is your moral responsibility to repay the loan?
Can you give the chronological sequence of the happenings.
Your date of joining the company
Date of Confirmation
Date of Loan
Date of Agreement you entered (if any)
Date of Resignation
Last working day
Letter date for repaying the loan with interest and receipt date.
If you provide these details, then our members can give you correct guidance.
17th November 2012 From India, Kumbakonam
I joined in April 2007,I received the loan in September 2007,then in December 2007 before 1month of my confirmation in a closed room,my 2 superiors told I am no good for their organisation,so with in one month I need to resign.i was doing very well in my previous organisation,my entire carrier was ruined,so I never resigned and never worked,I was without job for almost 5 months,they were sending contineous mails to resign,I resigned in April 2010.and I never asked for a receiving letter.i told the entire details to my current boss.he just told a resignation letter from my side will be fine for him.
So almost after 3 years this thing comes again,and I am very sure I have never signed any loan agreement bond.It is not about any other thing but my humiliation at that time that\'s why I am not returning them their money.you picked me where I was doing good,and within 5 months u are telling me I am no good.i struggled for 6months.here I am doing very good since last 2and half ye
17th November 2012 From India, Bangalore
I would tend to agree with Boss2966 here. Yours appears to be a case of moral dilemma more than a legal one.
In a scenario where there is no evidence of a loan admittedly provided to you (strange that your company overlooked such a basic step), both parties will attempt to come up with dates and documents to substantiate their claim. The way I see it is you can expect either of the following outcomes-
# You succeed in establishing your false claim that no loan was indeed provided. Would it provide you with a sense of victory/ satisfaction in the long term?
# You fail to establish your claim- which was false to begin with. You might end up feeling worse than you did when your company treated you wrongfully vis-a-vis your employment.
You should perhaps try to look at the situation for what it is worth. If at all, challenge them in the appropriate forum for wrongful termination of your services.
17th November 2012 From India , Delhi
Now I don\'t have any moral responsibility towards them,my question is simple if you receive a loan with out signing any docouments,according to Indian law whether you are bound to pay it.somebody gave me money without asking any thing,and I received,I was not knowing the further complications,whether this argument stands good in court of law.this is my question,will be pleased to listen from you all learned people.
18th November 2012 From India, Bangalore
To clarify, are you saying that you will admit in the Court of law that you did take a loan? Will your argument be that you are not liable to repay a loan you took because you were not asked to sign any documents?
I do not think that 'argument' would stand in any Court of law. The question very simply is whether when the money was given, was it understood between parties that the same was being transferred as a 'loan'.
Should you consider altering/ differently wording facts, your chances might alter as well. This naturally would be wrong, prima facie.
Given the circumstances, the case, as we opined earlier is a matter of moral over legal dilemma.
19th November 2012 From India , Delhi
Eventhough you are not liable to pay any due as the loan was taken before 3 years and in last three years duration you have not received any correspondence for repaying the loan and the letter received was only after completion of three years (Please check with a good lawyer who can guide you in this matter), it is your moral responsibility to repay the loan. You just approach your previous employer and ask them to give some time and inform them that you will pay the amount in instalments. Further you can ask for the waiver of the interest amount, for which also sometimes your employer can accept.
Simply do not tell that you do not have any moral responsibility to repay the loan. By saying you cannot escape from your liability. It will give some indications to your present employer also about you. So be careful while reacting for such cases.
23rd November 2012 From India, Kumbakonam
#AnonymousIf they have mutually accepted record of your employment agreement stating your overall salary to be far less than 2,5L in 5months and have paid through cheque or draft, even still their best of the lawyers might have very less chance to prove that why that 2.5L was given to you. If your employer was not good to you and left you deserted after pulling you from somewhere else, I believe you have no moral obligations towards the same. Even if you had given them undated cheque of 2.5L, let the cheque bounce and maintain in court that you never remember giving any such promissory note to anyone. You can say that you were given 2.5L as relocation allowance (LURING MONEY) for moving from past company, even if it is proved. DENY TAKING ANY SUCH LOAN IN ANY FORUM FOR FURTHER.
For now tell me what you have already corresponded with your previous company after the latest letter. Don't reply anything to company or even legal notice. Let them go to court. It will atleast take 2 decades for the case to go. Get a advocate then who can appear for you for Rs.100 or 200 for each hearing. Keep mum and nothing will happen.
22nd December 2012 From India , Panipat
24th January 2013 From India, Delhi
18th April 2013 From India, Hyderabad