Rescission of contract
alok
(Querist) 27 July 2012
This query is : Open
My father has taken a loan of Rs.60000 on a land from a cooperative
society registered under Uttar Pradesh Sahkari Samiti Adhiniyam 1965
for a period of 20 years. Now after 14 years we have paid an amount of
2.79 Lakhs on it and according to Cooperative Society, still we have
to pay almost an amount of 1-1.5 lakhs to get our property released.
Here i would like to mention that it was a surrogate loan. I mean my
father took the loan by signing the contract with the cooperative
society and then the cooperative society further took the loan by
signing the contract with Uttar Pradesh Sahkari Sangh on behalf of our
property. The society informed us about it and bounded us with the
rules of both the contract.
My query is whether i can get this contract rescissioned after 14
years and get my money i.e 2.79 lakhs recovered which i have paid for
repaying the loan because within the last 3 months i have come to know
that the contract signed by my father is almost void. One more reason
is the deficiency of service by sangh and the cooperative society.
Regards
Alok
