(Querist) 01 January 2009
This query is : Resolved
We have a property in chennai for my sister and myself. I have applied for Current Account Over draft showing my Business and kept property document with the bank as a security. My sister also signed the loan papers as guarentee since she is a coowner. Afterwards, there was some misunderstanding between us and she immediately send a legal letter to the bank to stop issuing the loan and insisted not to issue any legal papers to me. I also given letter to the bank to cancel my loan amount. Now, the documents are with bankers. So, could you please advice us for the further steps ?
(Expert) 01 January 2009
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(Expert) 02 January 2009
Give a letter to the bank Manger for getting your documents.Is the property documents are in your name? Is your sister is the coowner of the property or the Business?
Property is in joint name and the business is in my name alone.
J K Agrawal
(Expert) 04 January 2009
You alone entitle to get back the documents and if bank retains the papers or try to hand over the same to your sister or raises any dispute regarding delivery of documents the bank is liable for an offence of criminal breach of trust and criminal misappropriation of property.