In 5.9.1998 my mother bought a land as mortgage (land registered completely) with 3 years time to party to re buy the land by producing 36% as interest per annum. He fail to repay the amount and he additionally borrowed 50k on 5.9.2001. during this transaction we made a agreement to repay the amount with 36% per annum within 3 years and retake her land. He failed this time also so my mother took control of land from 2005 January and we enjoy the land till now.
Borrower gave a notice on 2005 February that he is willing to pay the money with intrest but we negotiated as the agreement time is over. From then onwards he gave 3 police complaint and 3 lawyer notice during the upcoming years. 2021 December borrower filled a case
*That he wants his land back he is willing to repay the amount with 12% per annum.
*Secure transaction to be made with 15% per annum but my mother asked more than that so he can't repay it during the agreement period.
*He filled all the steps he have taken to get back during 23 years.
*
My question:
He didn't come during the agreement period and not even 1 rs is paid for land till today.?
Now the land value have increased highly he filled the case on court that charging over intrest and by using limitation law he need his land back
He didn't file any case on court till 23 years but have given some leagal notice and police complaints.
Is there any chance for borrower in my case to win???
Please guide me
Can you charge 36% per annum interest ?
Do you have any money lending licence ?
Can you stop redeeming mortgage even if there is esclation in land price ?
Big NO
Show the documents to a local prudent lawyer for better appreciaiton of facts and professional advise.
