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Stamp paper is not included with this agreement and is for illustration purposes only. If e -stamp is applicable in your city you can order it during checkout.
Stamp paper is not included with this agreement and is for illustration purposes only. If e -stamp is applicable in your city you can order it during checkout.
Guidelines for Drafting Application under Order 34 CPC:
An application under Order 34 of the Code of Civil Procedure (CPC) is used in mortgage suits, typically when a borrower defaults on a mortgage, and the lender seeks to enforce the security interest in the mortgaged property. Follow these guidelines for effective drafting:
Clearly Identify Parties and Property: Clearly identify the plaintiff (lender), defendant (borrower), and the mortgaged property. Provide precise details such as property description, boundaries, and ownership.
Specify Loan Details: Clearly outline the details of the mortgage, including the loan amount, terms, and conditions. Attach relevant documents such as the mortgage deed and loan agreement.
State Default and Outstanding Amount: Clearly state the default on the part of the borrower and specify the outstanding amount. Provide a breakdown of the principal, interest, and any other charges.
Relief Sought and Sale Procedure: Clearly state the relief sought, typically the sale of the mortgaged property to recover the outstanding debt. Outline the proposed procedure for the sale, adhering to legal and procedural requirements.
Common Mistakes to Avoid:
Vague Property Descriptions: Avoid vague or ambiguous property descriptions. A clear and accurate property identification is crucial for enforcing the security interest.
Incomplete Loan Details: Ensure all relevant loan details are included. Incomplete or unclear information about the mortgage terms may hinder the enforcement process.
Failure to Specify Default: Clearly specify the default on the part of the borrower. Ambiguity in stating the default may weaken the case.
Neglecting Legal Formalities: Familiarize yourself with legal requirements and procedural rules under Order 34 CPC. Neglecting these formalities may impact the enforceability of the application.
By adhering to these guidelines and avoiding common mistakes, you can draft a comprehensive application under Order 34 CPC, enhancing the chances of successfully enforcing the security interest and recovering the outstanding debt through the sale of the mortgaged property.