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What take Legal action by NBFC Reg company for recovey

Querist : Anonymous (Querist) 12 April 2010 This query is : Resolved 
I represent NBFC Company that also RBI registered Non Banking Finance company.
I the Micro finance company given sum amount as a loan ( 10,000/- to 25,000/- ) and not received any Cheque and promissory note etc that also preparation agreement.
What take legal action for due EMI amount another Civil recovery suit.
Raj Kumar Makkad (Expert) 12 April 2010
Mortgaged property can be taken under possession and can be sold in such case.
Parthasarathi Loganathan (Expert) 12 April 2010
If no mortgage is created and the loan is unsecured, money suit can be filed for recovery of dues.


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