I am a registered money lender. I Have given a loan to a
party in the year 2002,by pledging his property and also registered
the document.Since the duration of the agreement is going to end (12
years) in the month of MAY 2014, I want to renew the pledge,by
writing a note on the (cellu vaipathu in TAMIL) back of the
document,and subsequently registering it.
sir, I want to know whether it is legally maintainable? Is there
any chance of a foul play on the part of the borrower? I also
sent him a legal notice ,6 months back to settle his amount.He
assured me to repay my amount ,after his family partition suit ends
in court ,and sent me a letter in his own hand writing and he is also
ready to renew the pledge.In what way i should renew the pledge sir ?
WHAT SHOULD I DO NOW
SIR? IN WHAT WAY I SHOULD RECOVER MY MONEY SIR?
THANKING ALL OF YOU SIR.