- Target:
- law ministry, supreme court
- Region:
- India
I am a defendendant in a redemption suit filed by the mortgagor. The preliminary suit is decreed after adjudging the principle amount due by the mortgagor ( Generally the petitioner claims that he paid more amouNt) and subsequently when trial goes on he does not press the amount he claims to have paid because it is done just to blame the bank or moneylendor as a hardcore criminal who wants to cheat the debtor. In the case I am defendant The decree has been passed with interest during trial and future interest is fixed at 6% p.a. on the principle adjuged ( not inclusive of accrued interest)
Hereafter Itis appropriate to use political power and muscle power to collect the monies from the debtors who take asylum in the court to get the interest fixed at 6% per annum during trial and future interest till realisation. If not I shall borrow a huge sum from such person with intention to cheat the person and take asylum in the court which always shows concern to the borrowers. I am not such a big moneylendor like citibak , icici , hdfc who can get the interest deregulated and get securitisation act enacted by lobbying with the law ministry or prime minister office. It doesn't seem to be petition. Isn't it ? It is because laws are never reviewed and courts overloaded with cases and the legislatures are busy blaming each other and pulling each other feet. So, we have to go as per the system. Isn't it surprising that the decreed amount is sinking with the inflation rate of 7.8% p.a beacause I am bound by court orders. The legislature to get the vote bank want to woe the deciet borrowers as well they dont want to change these laws because they are the major borrowers in disguise and the law is beneficial to them or their followers
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The Law which induces fraudulency petition to law ministry, supreme court was written by pradeep chordia and is in the category Law Reform at GoPetition.