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Author Topic: Urgent help: Property Attachment  (Read 188 times)

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Offline balapandian

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Urgent help: Property Attachment
« on: December 23, 2016, 01:34:03 AM »
I have given 10.30 Lacs Loan at 18% interest to my uncle 2.9 years back and he gave me promissory note.  So far he has paid just 50k.  This PN is going to expire in 3 months.  He refuses to renew the PN and refuses to pay me interest and plans to pay the principal alone in several installments provided he gets profit in farming.  My uncle is an agriculturist and he owns a new house(ground and first floor) and agricultural land (1.67 acre) worth 33 Lacs.

1. My uncle threatens me that if I go to court he will declare pauper by either selling the land or dhana settlement to family members.

2. I approached a civil lawyer, he says that your uncle is an agriculturist, so it is NOT possible to get an injunction court order, restricting the sale of his house and agricultural land till the case ends.  Also, even after getting the decree, his house and his agricultural land (1.67 acre) cannot be attached during EP-execution petition for auction sale.  So, it is not possible to recover the money through court.

My financial condition has worsened in the recent years, Now I'm in need of money badly.

Is it true that the house and agricultural land of an agriculturalist(debtor) is not liable for attachment or sale?

Please give suggestions

 

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