I gave my property documents as security to get loan from private financiers to my ex-employer when the company was in severe financial crisis. he is not clearing loans and returning my docs. he is escaping.
now, I resigned my job. he just ignoring my repeated requests. is there any legal way to go. please advice....
Once you have mortgaged your personal property with the financial institution on the asking of your previous employer, legally you can do nothing except to make him pleased to clear the outstanding dues otherwise you should be ready to see your said property auctioned and sold by the creditor private fiancier.
Contact a local advocate and explore the possibility of showing it as a voidable contract on the basis of undue influence or making some others also as co sharers and raising your mortgage is not legal etc., and you can only extend the issue. Let the lender take action and defend yourself. But, contacting a local advocate is a must to defend and save yourself from further torture by all.