Mortgage property without the moneylender license
navin
(Querist) 27 July 2013
This query is : Resolved
my friend has mortgaged a property with a moneylender having firm named shanthilal & co.
but @ the time of mortgage the agreement is done in between names as shanthilal jain & raghu in the simple mortgage deed..
1-WANT 2 KNOW THE LEGALITY OF THE DOCUMENT AS THE MONEYLENDER HOLDS THE LICENSE in name of shanthilal & co .
2-can my friend claim that the license is not there on his name as the license is in name of shanthilal & co??
3-can this mortgage b null & void?????
kindly highlight this.
navin
(Querist) 27 July 2013
my friend has mortgaged a property with a moneylender having firm named shanthilal & co.
but @ the time of mortgage the agreement is done in between names as shanthilal jain & raghu in the simple mortgage deed..
1-WANT 2 KNOW THE LEGALITY OF THE DOCUMENT AS THE MONEYLENDER HOLDS THE LICENSE in name of shanthilal & co .
2-can my friend claim that the license is not there on his name as the license is in name of shanthilal & co??
3-can this mortgage b null & void?????
kindly highlight this.
navin
(Querist) 27 July 2013
my friend has mortgaged a property with a moneylender having firm named shanthilal & co.
but @ the time of mortgage the agreement is done in between names as shanthilal jain & raghu in the simple mortgage deed..
1-WANT 2 KNOW THE LEGALITY OF THE DOCUMENT AS THE MONEYLENDER HOLDS THE LICENSE in name of shanthilal & co .
2-can my friend claim that the license is not there on his name as the license is in name of shanthilal & co??
3-can this mortgage b null & void?????
kindly highlight this.
ajay sethi
(Expert) 27 July 2013
is it a proprietary concern or a partnership firm ?
Rajendra K Goyal
(Expert) 27 July 2013
1. Full language of the document is to be seen for any advise.
2. He can claim.
3. Depends upon the merits.
navin
(Querist) 27 July 2013
its a proprietary concern .thanxx mr sethi in advance as all my questions are answered by u.
R.K Nanda
(Expert) 27 July 2013
nothing to add.
navin
(Querist) 28 July 2013
if its a properitorship can we just mention the name?
Raj Kumar Makkad
(Expert) 29 July 2013
If the firm is proprietorship then the mortgage name is proper. It hardly matters what is the name of the firm. The proprietor and his firm are one and the same.
navin
(Querist) 29 July 2013
thanxxx mr raj.................
