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Aravind Yedire (I T Analyst)     29 March 2013

Loan settlement

Dear Forum,

I 've give 2lac rupees to one of my relatives and got a promisory note signed by him for the said amount. The person who has taken the money died now. We found that there is some land on that persons name and he has mortgaged it someone else for seeking money. He mortagaged after the start date of the promisory note.

We have filed a case against him before the 3 years of the promisory note.

The creditor has a son and we do not know where he lives.

 

Can someone advise me what is the best way to recover the said amount and clarify me the below queries -

Is it possible to recover the entire amount along with the interest from the creditor/son?

Since we do not know where his son lives,what way should we proceed with the law suit?

If the land property he possessed is attached with this debt, can we recover the entire loan amount?

 

What is the best way, please suggest.

Thanks.



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