262+ Lawyers are online 
Need information on suit for recovery
15-Jun-2023 (In Civil Law)
i want a suggestion: A gives some money 20 lacks (totally in cash) to B on interest @24% against and B mortgage his land to A. and it is registered by agreement. i want to know, if A is not a money lender, can A give such loan. do A essentially need a money lending license for it? can he file a suit of recovery? is the registered agreement is a Negotiable Instrument? please tell me!
Money lending license is not always mandatory to give Money... Its depends on the situation , if u can explain the source of the huge amount u give ....than u can go to the court for recovery.... You can file a suit for recovery... No need of money lending license
Helpful?
11+
11+
Adv. Amit Sharma
Jhunjhunu | 25+ Answers
CONTACT NOW
Agreement executed between A and B is not a negotiable instrument it is a mortgage deed.A can give such loan subject to its valid source.money laundering comes in play in different situations.yes he can file recovery suit but interest rate may be lowered down by court.
Helpful?
11+
11+
Adv. Amit Singh
Jaipur | 100+ Answers
CONTACT NOW
My dear friend, every person has no need to get the licence regarding money lending, if a person is capable to give hand loan, and B is not giving back the loan amount, then notice have to be given and he can file the suit as per agreement regarding mortgage property.
Helpful?
13+
13+
Adv. Prem Dayal Bohra
Jodhpur | 100+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Civil lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
