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
Muhammed Rafeeque VLegal

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.

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Answered on 7/22/13, 7:40 am


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