Mortgauge


Best wishes.

8 yrs ago I gave 10 lac loan to my friend to tide over his personal problem.for 10% interest, by a chque.

He gave a promisary note.

Besides he gave his 22 cent vacant plot in his village (now  worth ~6 lacs) as a mortgauge.

In a good will gesture I made the mortgauge for 1 lac only., which is registeered 

Now  he is hiding & not tracable , ( as he has taken several non secured loans from so many people  who are after his blood.

Now can I file a case in court for recovery  & sell the plot to recover at least part amount.

kumar

pl  suggest a way. 

 

 
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instructor

You didn't mention the period for how many years you had given him the loan , what was the terms and procedure to refund the loan .
 
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