Legal Question in Securities Law in India

Respected Sir / Madam,

I am R.mani from kovilpatti ( tamilnadu ) . Last 2008 year I had given Rs.300000 to my friend. He pledged one land to my name in concern registrar office. Interest is 12% per annum. The land his own earned. After that I went another place for job purpose. He given interest only first 6 months, after that still now he did not given. Now my friend sold the land which is pledged to me. But Register office deed showing my name.

Questions:

1. How I get my money?

2. Is this traction legally correct or not?

Asked on 6/28/13, 3:46 am

1 Answer from Attorneys

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Mani, recovery of loan should be done within 3 years of the last payment received from your friend. If the property is in your name, your friend can't sell to someone else.

You can approach court on that ground.

Read more
7/22/13, 7:40 am

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