Question :

Around 10 years ago a friend of mine started a business for which he needed certain amount of investment. He contacted an investor and took a loan by giving his immovable property papers as collateral to which he also gave the power of attorney to the investor. The condition stated that my friend would flourish the business and will give a fixed amount monthly to the investor which he was unable to do so. Now when my friend wants to sell the property and return the double of principal amount of loan to the investor he is refusing and claiming that he owns the immovable property now.
Kindly advice me on the legal repercussions and implications and please suggest how can my friend regain his rights on property.


Write a comment: