I gave a loan against property in Noida and the borrower is not repaying what to do
NA Asked by Naveen Shetty from India
Quick Answer
If the loan was secured by a mortgage of property in Noida, you can file a suit for mortgage before the civil court seeking sale of the mortgaged property for recovery of the loan.
Detailed Legal Analysis
If the loan was secured by a mortgage of property in Noida, you can file a suit for mortgage before the civil court seeking sale of the mortgaged property for recovery of the loan. Under the Transfer of Property Act and Uttar Pradesh Rent Control Act 1972, a mortgagee can approach the court in Uttar Pradesh for a decree for sale of the property.
You must produce the mortgage deed, loan agreement, and default notice as evidence. You can also file a suit for recovery of the loan amount as a personal debt.
If the borrower is untraceable, you can approach the Allahabad High Court under Uttar Pradesh Rent Control Act 1972 for permission to proceed ex parte.
Disclaimer: AI-generated for educational purposes only. Does not constitute legal advice. Consult a qualified practitioner.