Property Purchase on behalf of others

The transaction proposed by you is not a legitimate one and a tricky issue - would lead to multiplicity of litigations.

vasudevan

your client applied for loan obviously in his name, is it so?

if he applied for loan in his own name thesale was in his own name, is it so?

Then where does his frind come into picture?

Where is the need for your client to recover cost from friend (now friend no more) when proerty is registered in his own name.

Mr vasudevan has already observed that probably the deal is not genuine/ either it is a benami transaction forbidden by law or your client has committed forgary with the bank by substituting his paying capacity in place of his lower income group.

If you adise him correctly you are likely to loose case.

Why bnak was not giving loan to the friend as they found impossibe to recover from his paying capacity then how your cleint can expect to be clerver than bank (unless professional, unscruplous, unlicensed monhey lender). He has to forget the recovery.