1. 03-Dec-2012, I win the bid and requested IDBI Bank to provide full set of property documents to inspect the property from Legal and technical side of property as per bid. It was refused and I have been asked to deposit 25% as per bid before 07-Dec-2012.
2. From 04-Dec-2012 to 05-Dec-2012 I tried all available source to get property papers and try to ascertain dues on property. But no one entertaining my request as I was not the owner of property.
3. I felt depressed and went for discussion. Recovery vertical told me that GM is not available in office and discussion can happen only on 08-Dec-2012.
4. 07-Dec-2012- I did not pay the amount as still property papers were not in my hand for Technical and Legal Verification of property.
5. 08-Dec-2012, I requested with GM of IDBI Bank for property paper. But he arranged sale deed number and borrower to source the information.
6. 10-Dec-2012, I got Sale Deed, Valuation report and Municipal Tax receipt of 2009 from IDBI Bank. But Sanctioned plan was not available with the bank.
7. 11-Dec-2012 I requested for sanction municipal Plan, Inventory, Panchnamaetc from IDBI Bank. They informed me that they can provide subject to approval from appropriate authority.
8. Further Recovery Department called me 14-Dec-2012 to discuss the issue with DGM who arranged Inventory, Panchnama on 14-Dec-2012 and supported to get the technical inspection completed on 17-Dec-2012 by 3 PM. Sanctioned plan was not given to me on the ground that sanctioned plan is not available with Bank.
9. On 18-Dec-2012, I received technical opinion with comment that “Construction does not match with sanctioned municipal plan.” Then I requested IDBI Bank to provide me the copy of revised sanction plan. Recovery Department told me that same is not available in record. I met promoter and requested for Revised Sanction plan / Completion and occupancy certificate of the property. He informed that he need to check whether revised approved plan is available with him
10. 19-Dec-2012, I got information from promoter that Completion/Occupancy certificate is not available and revised plan approval is still under process and he has to search for the application made to Kolkata Municipal Corporation.
11. I immediately went to recovery department and showed them encumbrance on the property. I was failed to understand that this paper was not given to me even after several request since 03-Dec-2012 and it contains the information on encumbrance of the property. Above material encumbrances were never informed to me during inspection before commencement of auction and above discrepancies affects the nature and value of the property.
12. I tried to submit the information on encumbrances and request for arranging the documents so that I can inspect and purchase but recovery department Manager refused to accept the request as GM is not available. Finally I dispatched the letter dated 19-Jan-2013 through Speed post.
13. When I did not receive any favorable reply, I again send the request to arrange the papers or refund the EMD which was deposited at the time of bid.
14. Recovery department send me legally drafted letter dated 21-Jan-2013 stating that buyer has to do due diligence prior to bid of the property. As per letter I have to pay the sum within 15 days from the date of receipt of letter or EMD will be forfeited.
PLS confirm what is the chances of refund of EMD
