Legal Question in Civil Litigation in India

I and 4 of my friends formed a partnership and we invested money with a person who was buying a huge land in Bangalore. In the document of this property the land is registered solely in his name and hence our partnership firm does not have any rights legally. Is there anyway we can form a legal contact for the money that we invested with him by using this land as collateral. If collateral is not possible is there anyway we can have a legal agreement to show this payment made to him? All the money was paid in cheque


Asked on 7/02/12, 3:46 am

3 Answers from Attorneys
Global Legist Advocate & Legal Consultants

Hello,

Peruse him for join ownership limited to the percentage of your investment.

What is you objective with this land.

You want : Land

Investment.

Apartment

Make a commercial agreement; term and condition will depend upon the objective.

Merely paying by cheque is no security. Do you have any agreement under which the said amount is paid to the person ?

For further enquiry please contact us.

With Regards

Global Legist

Advocates and Legal Consultants

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Answered on 7/02/12, 4:44 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Yes you can form a legal contract with him stating that you have paid him for investing in the land and so on.

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Answered on 7/02/12, 11:29 pm
Sanjay Kalra Sanjay Kalra & Associates

Such important thing happened in your life and you stuck in this forum to get free advice my friend . I need to know lot of things before i could give you my legal advice as most of the members do . Engage a good lawyer or else call me.

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Answered on 7/03/12, 12:04 am


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