Money lending
Ricky
(Querist) 02 June 2012
This query is : Resolved
Hai,
Iam from the State of Mizoram, My friend had borrowed 5lakh from non registered and a private money lender who is not a licensed money lender by mortgaging his builing with a 10% interest per month. My friend had paid 1,50,000/- only interest but due to some problem he did not repay back the money with its interest on time as agreed before. The money lender now had institute a Declaratory suit and money suit at District Civil Court. And the court had passed experte judgement, saying that the mortgaged building will be possessed by the Money Lender. My friend had approach the money lender so many time after the court judgment to settle the matters by repaying back the money which he had borrowed from him, but the money lender demand 25lakhs. Is there any others legal remedies to overcome from this issue.
Devajyoti Barman
(Expert) 02 June 2012
The money lender as usual is taking advantage of the situation.
In the present circumstance it is best for trying to set aside the ex parte decree fy filing an appropriate petition.
Another option is to appear in the Execution proceeding and apply for satisfaction of the decree by payment in cash. If the Judgement Debtor does that the court can not pass order for attachment and sale of the property.
ajay sethi
(Expert) 02 June 2012
was an greement entered into with moneylender? 10%per month is usurious rate of interest . . you should immediatedly move court for setting aside exparte decree . take plea that money londer does not have any money lending license , rate of interest chargeis usurious , no written contract has been entered into etc
contact a local lawyer
Advocate Bhartesh goyal
(Expert) 02 June 2012
Firstly file a petition for setting aside ex-parte decree u/o 9 r 13 of c.p.c.Generally court allows such petitions on cost on the ground of sufficient cause for non appearance on hearing date.If your petition allowd by court then you will get chance to file written statement.take all the objections in w.s as suggested by ajay Sethi and contest the case.
Ricky
(Querist) 03 June 2012
Many many thanks to Mr.Barman, Ajay Sethi and Bhartesh goyal for enlighting me with your valuable legal opinion despite of the hectic schedule. The ex-parte decree was pronounced by the learned Senior Civil Judge in Lower Court, so in order to set aside the aforesaid decree, appeal should be made in the High Court with delay of condenation isn't. Do you have any well known good lawyer especially practise in Gauhati high court.
Ricky
(Querist) 03 June 2012
Court Appearnce fees and others expenses will be of no issue in order to settle the issue legally.
V R SHROFF
(Expert) 03 June 2012
Ricky, ur friend have a very good chance to win , as facts are in his favour. Engage a well experienced successful Lawyer of your locality, and fight it out. Wish u best of luck.
Ricky
(Querist) 04 June 2012
Thanks V R Shroff ji, we will immediately try to short-out the issue.
Shonee Kapoor
(Expert) 20 June 2012
Nothing left to be added.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
