Sending legal notice

M. Kannan (Querist) 29 November 2014 This query is : Resolved
Loan taken in Bangalore by pledging site document. The site is in chennai. Borrower and lender are in Bangalore. Loan taken for 6 months time period. Interest paid is more than 10 times of principle amount. Almost 10 years are over now. For the past 9 months, interest not paid. Now the Lender asking in lakhs for returning the document. Loan taken amount is only Rs.15000. Now to send legal notice, where to approach the lawyer in Chennai or in Bangalore? Request your advice.

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Devajyoti Barman (Expert) 30 November 2014
Why are you approaching lawyer. if you are borrower, you have to repay the loan. Sending notice would no absolve your liability.

Guest (Expert) 30 November 2014
If the Interest was paid by cheque or if you have Receipts for the same You are more safe.What sort of Documents you had Executed.Have you given any Post Dated Cheques.Whether it was a Registered Mortgage or Un Registered Mortgage.If Registered Mortgage take an Up do Date EC even other wise take an up do date EC.With all these Consult a Good Local Advocate for Remedies.

M. Kannan (Querist) 30 November 2014
It is an unregistered mortgage. Loan agreement on Rs.20 stamp paper. No post dated cheques are issued. Interest paid by cash only. Lender did't give receipt for that. His intention is to get the property registered in his name. That is why he is asking more amount. That too in lakhs. Please help on this issue. Shall I seek the help of bangalore lawyer or Chennai lawyer?

Rajendra K Goyal (Expert) 30 November 2014
State full facts.

ajay sethi (Expert) 30 November 2014
seek help of bangalore lawyer as both are residing in bangalore only

R.K Nanda (Expert) 30 November 2014
consult local lawyer.

Biswanath Roy (Expert) 30 November 2014
If the transaction of loan was made at Bangalore and the Stamp paper of Loan agreement was purchased at BANGALORE then the dispute falls within the territorial jurisdiction of Bangalore so you shall have to engage a Lawyer at Bangalore. Second point is you took loan ten years back and paid interest over the loan amount as per loan agreement excepting last nine months and that is why the lender served a legal notice demanding loan amount after a lapse of 10 yearswhich is not maintainable and payable by you. Besides, lender can not claim interest over the loan amount since he is not competent to do so according to Interest Act. Hence, I ADVICE YOU TO ENGAGE A COMPETENT CIVIL LAWYER AT BANGALORE TO GIVE APPROPRIATE REPLY TO THE NOTICE OF THE LENDER.DENYING YOUR LIABILITY.

T. Kalaiselvan, Advocate (Expert) 03 December 2014
If the loan was taken evidencing the loan agreement dated10 years ago, it may be barred by limitation especially in the event of the lender not in the habit of issuing receipts for interest amount paid. Consult a lawyer in the local and discuss the issue at length.

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