Dear Learned Experts
My friend is a money lender.
The following are the facts.
1. He has lent Rs 1.5 lacks to a person known to him on mortgage an 1200 sqft land and registered the mortgage in the local SRO
2. The mortgagor now trying to sell the land without my friends knowlede and has received an advance of rs 1lac from a buyer,
3. On perusal of Encumberance certificate, the name is still reflecting in my friends name only and the land has not been sold so far.
4. The mortgage was done before 18 months and till date there is no payment made by the mortgagor.
5. My friend is worried as how should he collect the amount,?.
6 . What action my friend being the mortgagee can initiate?
Thanks and Regards
Siva
