Legal Question in Securities Law in India
Mr.A has borrowed some amount from Mr.B, and has mortgaged his car for it, in a notarised agreement between two. Can Mr.B directly lodge an FIR against Mr.A , If Mr.A fails to pay the amount and even fails to show up his car. Can Mr.B directly transfer the car in his name w/o consent of Mr.A in this matter.
Asked on 7/14/10, 10:51 pm
1 Answer from Attorneys
Mr B can file a suit for recovery and can sell of the car if its in his possession.
Simultaneously B can also file a Criminal Complaint under charges of Cheating, Criminal Breach of Trust, Section 420, 120B.
Regards
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Answered on 7/14/10, 11:27 pm
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