Jay
21 September 2014 at 14:31
I want to buy a housing property of a Guarantor of business loan,obtained from SBI in 2010 Amt 1.5 crores.
Now loan is taken against mortgage business property and as a guarantor his wife gave guarantee. And his wife (i.e guarantor) , holds one housing property.
But in 2012 due to business crisis, loan borrower failed to paid dues with the bank.So bank put charge both of the properties i.e. business premise as well as housing property of his spouse.
Now recovery dept of SBI bank with reference to SARFAESI ACT,settle all dues for 1.12crores, withdraw charge on "Housing property of Spuse",If he pays 65 lacs within 15 days and remaining amount in 45 days then bank will withdraw charge on business premises
Now i am having interest to buy housing property and pay 65 lacs on behalf of guarantor and she transfer property right in my favor after withdraw charge by bank.
So is it advisable to buy a property ?
If yes then which point i have to keep in mind or how can put myself safer side against i pay 65 lcas on behalf of gurantor
sakka
21 September 2014 at 14:17
A and B are brothers staying in a rented house, the rental agreement of which, is in the name of B. Both the brothers are under debt(rs.10 lakh). A also has alchohol, control and temper issues for which he is under medication to keep calm.
Now, a girl, who suffers from a rare psychiatric condition[the condition is itself under study in the medical world and there are no causes, cures or treatments prescribed for such a condition] hence psychiatric drugs are prescribed for her. Her parents are searching for a suitable match for her, come across A's profile where he has said that he works in a MNC and he is an engineer by education. [what he hasn't said is that he is working in the call-center of the MNC and not it's engineering wing].
the girl promptly tells him about herself before marriage when they talk face-to-face and on phone.
A does not tell about his financial debts or his temper issues.
They are married.
After marriage on A's request the couple stay at the girl's parents' house. After 1 month A takes her to stay with him in the rental accomodation where he stayed prior to marriage with his brother. Now his brother is out of station. During the month A forces the girl to stop her psychiatric medication, which she agrees for his sake. He then asks her to deposit her money(her earnings from her previous job) in a joint account which he shall utilise to repay his loans. She refuses. Meantime teh girl also comes to know about his debts and his temper and control issues. Her MIL comes to stay with them and both the son and the mother put the pills in a bottle(without name) and hide it from the DIL.
Next day, A locks her up in his house saying it is for her own safety. Now the girl gets scared and calls her parents, who come and take her home, the next morning. No complaint lodged.
Next A tells everyone that she left out of her own will. when she goes back after 2 months to stay with him again, A refuses to allow her inside.
In the subsequent 2 months her psychiatric medication is stopped by her doctor due to her improvemnt. Delighted she goes to husband's house and informs him. Again he refuses to believe her and does not allow her inside the house.
A goes out of station on work informing the girl's family but does not inform them on his return after one month.
Now the girl and her parents begin to understand that maybe they are being cheated.
Two months later, the girl and her parents go to his office and inform them. At that time, A leaves the job by giving the reason as "personal life affecting work".
Then parents go to A's house again to confront him. He does not allow them to come inside. this time A files a complaint in the local police station. The contents of the complaint are unknown but the police refuse to help the girl to settle back in her husband's house saying that it is his brother's house and hence they cannot do anything.
Now only 2 months remain till 1 year completes.
the girl and her parents are in slightly better financial situation than A.
On the completion of 1 year A contemplates to file divorce based on the grounds of fraud.
Some of his arguments are
-that although A had knowledge of her condition, he wasn't given "full" knowledge of the condition.
-that just because he has loans does not mean that he asked her to repay them
-that there is no proof that A did not allow her and it cannot be said that she did not leave of her own will
-that there is no proof that A had locked her up in his house.
Hence divorce must be granted on the basis of fraud and cheating on the girl's parents' part of withholding material facts before marriage and since because of them A lost his job, he has to be compensated.
What are the mistakes of the girl and her parents?
What steps they could have taken before 1 year of marriage completed?
How can she prove who is the real fraud?
Please note: This situation is of my family member. Since this is a public forum I posted it like this.
Abhishek Mawle
21 September 2014 at 13:43
I had obtained an education loan from State Bank of India for pursuing Master’s education. I along with my father are Joint Borrowers for the education loan. Among other documents, I and my father also executed an arrangement letter cum Loan sanction letter along with terms and conditions, Dt: 27/12/2006 at point no.6(2a) of the said letter under sub heading SBI Life Yearly Premium which reads “SBI Life Yearly Premium to be debited to Loan Account:Re Obtain SBI SHIELD before disbursement of loan”. This arrangement letter was signed by all the parties to it i.e. Joint Borrowers ( myself and my father) and Astt.General Manager (RACPC), State Bank of India.
I had requested the Central Public information officer to give Copy of the insurance policy “SBI Shield” covering the lives of the “Joint borrower” for Education loan as per the terms and conditions mentioned in the arrangement letter, under the RTI Act 2005, as per my application dated 10-04-2014. Thereafter I received reply from Central Public Information Officer, Ref: Lr. No SARB/SVR/2014-15/24,Dt: 08/05/2014 wherein he has expressed the inability to furnish the Copy of the insurance policy “SBI Shield” covering the lives of the “Joint borrower” for Education loan "as there is no stipulation in the arrangement cum sanction letter for obtaining a life insurance policy of the borrowers as per the terms and conditions mentioned in the arrangement letter”, Which is a lie and completely contradictory.
I was not satisfied with the reply of Central Public Information Officer hence I filed first appeal. I filed an appeal with the appellate authority with an additional document titled "Most Important Terms and Conditions" issued by State Bank Of India Corporate office to all State Bank of India Branches across India point No.4 under sub heading expenses considered for loan which reads “Premium of the insurance policy covering the life of the borrowers of the loan”. I did not receive any reply.
At the time of availing the education loan,the bank has taken a “SBI life insurance policy”(SBI Shield) for Rs25.00 Lac in the name of each borrower i.e myself and my father from its sister concern SBI Life Insurance Co.Ltd and assigned itself as the nominee in the case of death of any borrower. At the time of disbursing of the loan the bank has taken the signature of the borrowers in the life insurance policies and letter of assignments which stands in the favor of the bank as beneficiary. As such the bank has taken the “ SBI Shield ” in the name of the borrowers before the disbursement of the loan.
The bank is silent whether they have encashed the life insurance policy standing in the name of the second borrower i.e my late father.
After adjustment of the loan outstanding amount with the benefit of the insurance policy of Rs 25.0 Lacs.I am entitled to balance amount of insurance policy which is approximately Rs 9.0 Lacs.
Can I file a civil suit against the bank for breach of contract, dishonesty, cheating or any other provisions etc and claim damages, other reliefs. Please suggest.
Sachin dhumal
21 September 2014 at 13:30
Good afternoon sir
my name is sachin dhumal on all my educational documents my mother name is SAVITA and My mother name on her voter id Ration card and aadhar it is SUNITA is there any problem in future i am preparing for civil services please guide me i am so worried
thanks in advance
sreedhar musipetla
21 September 2014 at 12:39
Whether a petition under Order IX Rule 13 of C.P.C. is maintainable after completion of Execution Proceedings.
VIJAY K. TEOTIA
21 September 2014 at 09:21
can a termination of a manager grade employee be challenged in civil court? Is it maintenable?
VIJAY K. TEOTIA
21 September 2014 at 09:18
Can an employee (executive)at the time of resignation claim adjustment of sick leave against the mandatory notice period, as a matter of right? Further can the employee join another company after resignation but without either completing notice period or the same is waived off?
gaurav mehrotra
21 September 2014 at 01:08
One of my client had a premises in which a temple is there which was owned by landlord and outside it a shop was given to client grandfather by the same landlord and client paid the rent accordingly till 1998 with a condition that rent received will be used in temple repairs and renovation work but then landlord died in 1998 and about after that a IL-legal trust was formed in the same premises where a temple exists from that year 1998 rent has not been paid as my client refused to pay the rent to that IL-legal trust and landlord legal heirs don't have any succession certificate which was let-out by the landlord. Now my question is that my client made a query that how to pay the rent and whom to pay the rent as client has the property for more than 50 years. please advise as per the UP RENT CONTROL ACT 1972
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138 ni act
We are in business and we received payment from one client by cheque dated 21-08-2104 but cheque got bounced stating reason that a/c closed in year 2011,cheque was given to us in april 2014 ,can we file case u/s 138 niact as we have clear proof of our outstanding amount or not as bank a/c was closed 3 year back