Legal Question in Credit and Debt Law in India

I have taken loan from private lender and done the ikrarnama of my house. THe time period was 3 years. Now after only 1 year, i am giving complete amount and interest. And now How to proceed. Do we have to go court to close that ikrarnama or only give him money and take back paper?


Asked on 9/09/13, 10:26 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

10.09.2013

Dear Sir / Madam,

There is no Court involved here. You should obtain a letter / receipt from the lender that he has received the entire loan amount with interest in full and final and you should take back all your original property papers from the lender.

Regards,

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Answered on 9/09/13, 10:46 pm


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