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Aayush Jain (Law Student)     28 May 2013

Fraud mortagage

My grand mother 80 year old's ancestral house, being mortagage, without her signature and knowledge, by my uncle to a Non Banking financial company which later become NPA and Now the loan has been assigned to Kotak Mahindra bank, which is a banking company, has issued a section 13 notice under SARFAESI act demanding full payment. What are my grand mother rights and what course of action be taken by her to prevent Bank to under go the auction of her residential house. please help



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 3 Replies

Daksh (Student)     28 May 2013

Dear Ayush,

For clarity more factual matrix are required.   More so presumably if your grand mother's house is in her name the same cannot be mortgaged without her consent in writing and secondly if she does not have privity of contract with NBFC definately this property can neither be mortgaged nor can attract section 13 notice.  Still in reply to the section 13 notice you may put forth these factual state in right perspective.

Best regards

Daksh

MANOJ HARIT (LAWYER)     28 May 2013

Mr. Aayush, First and foremost get in touch with a lawyer & send reply - cum- representation to the Bank. If the Bank goes ahead & takes measures u/s 13(4), file a S.A. before the DRT. If u r from Mumbai or Maharashtra u may get in touch with Adv. Manish Bohade on 09371505560. He'll be able to guide u.

Aayush Jain (Law Student)     29 May 2013

Actually, my Uncle who mortagage the house, is co-owner with my grand mother, covered by a partition deed between my father and Uncle, My grand mother, rights will only be transferred to my Uncle, after her death. My father has also right of first refusal of the said house, and we also live in the part of the same house. 

I request you to clarify me on the followings, My grandmother, can be evicted by the bank ?How the bank can be prevented by even symbolic possession and actual possession, please understand that my Uncle wish to settle the dispute with the bank .. my father who has a right of first refusal, what course of action he should take..?


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