Demanding more than extra by Elder Brother
Hello Sir / Madam,
Let me brief about the case :
I lost my father about 20 years back, we are two sons and my mother is staying with me (with my family). My elder brother is married and most of last 20 years he used to stay in abroad and now as well.
I started business 5 years back and I had taken loan of 50 Lakhs in nationalised bank. Initially business did well but couldn't able to sustain for very long and had a huge loss since to lack of experience in the same field. My brother agreed to clear the loan amount but he had a plan to acquire more share using this situation.
He purposefully delayed to clear the loan amount for about 6 months and finally made my mother and myself to sign the unregistered MOU, which states that my mother need to release her share of 33% and myself 8%. Claiming 2 floors of the property which we both (mother & myself) had to register for him.
He cleared the loan but I didn't agreed for the registration since my only argument is exchange of floors from 2nd floor in the MOU to 1st floor which I need due to property attachment.
He ensured my mother to release her share of 33% in registration office. Now case is in the high court and ordered to settle mutually. Please let me know how to proceed further. Since I'm confused and my advocates are asking me to agree for all the conditions put by my elder brother.
They are asking amount in lakhs after me agreeing to give the 2 floors worth of 1.6 Cr. Please advice to proceed further in this case.