francis (CHIEF) 03 May 2020
G.L.N. Prasad (Retired employee.) 03 May 2020
Now, your issue is beyond seeking information from an online forum, and it is time that you should contact a local advocate and express your willingness to perform your part of the contract as the amount was borrowed on a mortgage and not on sale. It appears to me that lender's intentions are certainly not fair. No prudent person can suggest you remedy unless the agreement and its clauses are gone through and without the lender filing a suit before a competent court, with his stand. In all such cases, the lenders always remit money themselves to the account and obtain the authorization from the borrower for keeping the documents with them. The property is always security for the mortgage and never outright sale when the property value is Rs.1cr, and the amount borrowed was Rs.10 lakhs. It is insane to agree to sell for such pittance of consideration. Contact a local advocate and prepare to pay such amounts from other sources like a bank loan etc.,
P. Venu (Advocate) 03 May 2020
It could be that you can plead technicalities resist his claim and get the suit dismissed. But what are the facts in simple? The facts, as stated, are disjointed and unconvincing.
G.L.N. Prasad (Retired employee.) 07 May 2020
1. Who is the main queriest Mr.Francis?
2. Who is this latest addition, Mr.Jack Smith?
3. What was tinkered around by Mr.Smith on that query of Mr.Francis?
What is the present logical conclusion on such attempts to tinker the possibilities by entering into the issue?