Auction property

VAIBHAV (Querist) 26 March 2012 This query is : Resolved
I am salaried person. I am going to by an auction property from one financial institute. I already pay 4lak witch is 20 % of total cost of property. The finical institute made a agreement between us. Now after two months after they said that, We are not received letter from DRT. So would you please tell me which documents I need to verily. And what is actual process is that.

Regards,

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Deepak Nair (Expert) 26 March 2012
You have to follow up with the DRT.

adv. rajeev ( rajoo ) (Expert) 26 March 2012
you will have to verify the documents in Debt Recovery tribunal.

Sankaranarayanan (Expert) 26 March 2012
First you need to fulfill the commitment of DRT. If any papers they need then you must submit. Just enquire the same with them

SAINATH DEVALLA (Expert) 26 March 2012
Dear Mr.Vaibhav,

At the first instance,how did the auction take place when the case was with DRT.Unless it is cleared by DRT,the financial institution cannot auction the property.Kindly verify with DRT immediately.

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