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Anonymous
in Commercial Law
Asked May 12, 2017

Increase in value of Debt

  • 1 Answer
  • 263 Views

Hiiii Sir/ Madam, I'm Gowri ramana from vijayawada, In year 1990 I gave Rs. 70000 amount to Mr. Umamaheswar Rao. For proof there is a promissory note. I gave amount to him by keeping his original plot documents which situated at atmakur near mangalagiri. In 1991 Mr. Umamaheswar rao along with his family committed suicide expect his minor son at that time ( 1991). After that I didn't receive any amount. Recently Mr.Umamaheswar rao son came and started enquiry about plot. Originals of that plot are their with us. Now he wanted his plot back. We want our money back. Ofcourse money value get increased as 27 years passed. So, I requested please give correct suggestion. By that both should get benefited. Thank u, plzzzz consider our query.

Answer 1

Hi,

A better option would be to negotiate with the son and avoid the legal procedure.In this case as the promissory note which is given in lie up of the money given and the property paper. Therefore, it would be advisable to follow the promissory note which contains the amount to be paid and the interest if any. You can ask for the amount with interest of the 27 year . However, in the case if doesn’t agree then offer the value of the plot of that time when the promissory note was made that is 27 year ago or retain the property papers.

 

Regards,

Jayant Garg

Agree Comment 0 Agrees almost 4 years ago

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