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Loan forwarded, person became insane, AOD to be signed, what to do?
22-Jun-2023 (In Documentation Law)
one borrower borrowed loan.when getting loan he was sound in mind and healthy. now he had become insane. he has to sign AOD....still limitation period is available. can we get his thump impression or any other way to solve the situation....kindly guide...
In your situation, Acknowledgment of Debt (AOD) can be signed either personally or by an agent duty authorized by the person under the name/ letter head of the company or individual. but any document signed by him would be void in nature as he is insane now and in the eyes of law it wont be a legal document.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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