Bank projecting legal heirs as guarantors with any documents
Goapl Garg
(Querist) 18 May 2015
This query is : Resolved
My family consisted of my Grand Mother-father-mother-myself(23yrs old son,student)-my sister(19yrs old student).My father was a working Director in a private ltd company and had demised recently one year ago.After his demise we came to know that our residentail house was under a mortgage for a loan of his employer company. Myself and my sister stay in two different city for study purpose.After demise of my father and we brother-sister in college campus, my mother and grand mother have been made to sign documents pertaining to the mortgage continuation by employers. we, brother-sister have not signed any document as yet.There have been good relations and the employers were also good people.Now we came to know that the employers could not make payment to Bank.
About six months ago Bank sent four separate notice vide section 13-2 of sarfasi act asking us to make payment of the full loan we all four have been described as gurantors being legal heir to my father. A protest letter was sent to bank on my and my sister behalf that we have never been a party to any documents and execution and can not be asked for payment and can not be termed as gurantors, just we are legal heirs.The Bank deleted our names(my and my sister:s) from all of the letters etc issued thereafter.Now suddenly the Bank has pasted a Notice on the wall of of our house under section 13-4 and have got it published in two newspapers. and in both pasted notice and newspaper insertion our names have also been re-added as Gurantors.
Sir, we brother-sister are student, do not have any finance, and have not signed any kind of documents any time and we are now facing very bleak situation in society, circle, college-university and we stand to face a lot of issues in our carrear, employment and higher studies by being entangled in such issue.
We sincerely seek advise:
01. Have we brother-sister become Guarantor without executing/signing any documents just because we are legal heirs of our father?
02. Is the Bank rightfull to treat,brand us as guarantors and do the same treatment with us what it can do with my grand mother and mother?
03. How can we discharge any liability of the employers(big amount) when we do not earn etc?
04. If Bank is not correct then what should we do ?
05. Can we ask bank to withdraw both the notices? in the way they have issued them?
The matter is very serious and urgent.
Please advise us.
Thanks in advance
Kumar Doab
(Expert) 18 May 2015
If you have evidence of addition of your names then deletion of your names as per your written protest then addition of your names.................then your counsel after due examination of each document on record may opine that you can sue the bank for defamation etc........
Apparently you are Hindu.
After the amendment to Hindu Succession Act (2005) son is under no pious duty to pay debt of father................
You should arrange buyer at market price of property and offer to sell and recover and pay rest to legal heir/guarantors......
You should ASAP arrange to consult a senior and seasoned lawyer well versed with such matters and also some Ex. Bank Employee well versed with such matters.
Goapl Garg
(Querist) 18 May 2015
Thank you Sir, but I humbly submit that
01 the house is in the name of my demised father...
02 my father became a mortgager and guarantor to the extent of value of the house without personal guaranteee..
03. after demise, when some kind of renewal formality was required, only my mother and grand mother had signed the documents of renewal(on the advice of employers)).
04.when myself and my sister came to town , the employer took one affidavit from both of us in which we had relinquished all of our right/share in the estate of our demised father which was submitted to bank and then Bank People visited us and gave us a letter that their law department has asked for a Registered Relquishment Deed from both of us as the submitted affidavit is not acceptable OR both of us execute guarantee papers as legal heirs.But we firmly refused to do anything, hence other than the affidavit the bank do not have any paper from us...
05.First the bank issued notice of 13-2 in our name, then we lodged protest letter that we are not guarantors at all.then bank ommitted our names from their further letters, notices.Now six days ago the bank people came and pasted a notice of 13-4 on the wall of our house and same was published in newspaper in whic bank again have put our names as guarantors.
so this is the case. the bank is making us guarantors at one point, ommitting our names, thereafter, and now again adding our names as guarantors.
We agree my mother and grand mother is genuine gurantors and but sirs, we brother-sister has not executed any kind of bank guarantee documents any time and we shall face serious carrear issue apart from social issue for the marriage of my sister.
Now please advise us our status and remedy.
This is very Urgent.We are learned people but have very little xposure to legal issues.
What should we do?
Respected Experts,please advise....
KUMAR JAGADEESAN
(Expert) 18 May 2015
Dear Mr.Garg
You have not stated that whether the house was self acquired property of your late father or was ancestral. In the later case the Bank can not have any hold on the property as at his demise your mother, sister and yourself acquire equal interest in the property. In the first place he could not have mortgaged the entire property beyond his share.
In case of self acquired property also since the renewal of gurantee has been done by your mother and grandmother they also have limited interest in the property after the demise of your father and then could not have mortgaged the entire property.
As per the SARFAESI Act in the next stage the Bank would go for auctioning the property. Hence I would advise you to contact any advocate practicing in DRT (Debt Recovery Tribunal)under whose jurisdiction your house is situated to obtain stay and for taking up further
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