idbi bank had a OTS at rs 3.5 crore whereas the mortgaged property market value was around Rs. 35 crore. to my knowledge it came that the bank's staff was involved in it, i had written complains to the HO mumbai but no response, so came to know that the OTS was done at the HO itself. initially in 2003 the OTS amount in DRT was kept at Rs.9 crore so how can the settlement be done at such a low amount in 2007 whereas the property rates have increased. also i got a property from the same when western united started selling at rs. 91 lacs in 2006 june. so i paid 25% the same day and later cidco wrote us that the property is under their control as it is undeveloped, so we went to the bank on 12th day with the DD of remaining 75% and they didnt accept it because we asked them to write in written that the property will be transfered, so they gave us extension of time as they cant accpet the amount. later in oct idbi took over united western and they again gave us a letter to be patient and they are trying to transfer the property in oue name. later in 2008 march we came to know that the bank did OTS with the borrower in March 2007 itself and gave them the extension to deposit the amount of Rs. 3.5 crore till march 2008 just with interest of 5%. so bank giving defaulter OTS extension of a yr at 5%. even when they selled his single property at 91 lacs. so there is sure somehting fishy as the trail was still on in high court and they didnt let anyone know about the settlement in the complete yr till 2008 and were trying to trsansfer the prop n our name, so the complete settleemrnt took place in march 2008 itself. if you need precise and complete chronologically events then please contact. contact number 9923688899, 9823043644 for document details if interested.
