Respected All Eminent Lawyers,
our company is trying to take a mortgage loan against our office [commercial] from one of our directors relative of the company who is an NRI. It will be a registered equitable mortgage. However when we approached the registered, he said that only Registered Money Lenders can give loan and he didn'tregistere the document and the loan taking has stopped.
I think, this is not right as the lender is giving money out of his earnings from abraod and he is giving to his relative and only once and he is not into money lending business. He is a professional consultant. Can any one tell me the real thing.
And how do it come out of this.
thanking all in advance
majety
