Bank action

naresh chamarthy (Querist) 26 May 2015 This query is : Resolved
respected sir.i'm naresh from hyderabad.recentlly i purchad a property on e - action mode throught bank action .i paid total amount in 15 days below . the banks ready to give sale certificate.but defaluter apporched DRT .he is(defaluter)try OTS ON that loan.is it possiable after action OTS can apply .please advice me sir.

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ADV-JEEVAN PATIL, MUMBAI (Expert) 26 May 2015
Send clear narratiom of query

Sudhir Kumar, Advocate (Expert) 27 May 2015
the deal requires voluminous papers to study. contact local lawyer.

Dr J C Vashista (Expert) 27 May 2015
All relevant documents qua the property purchased in e-auction are to be analysed by a local lawyer for proper opinion, advise, guidance and proceeding.
Is there any stay order granted by DRT?

Kumar Doab (Expert) 27 May 2015
Bank is ready to give sale certificate.

Take it.

Show all documents on record an able lawyer well versed with such cases.

naresh chamarthy (Querist) 27 May 2015
DRT ORDER TO DAY status quo maintained .POST TO NEXT DATE

T. Kalaiselvan, Advocate Online

(Expert) 01 June 2015
If DRT has passed orders for status quo, there is no use of sale certificate from bank, because they cannot register the sale deed in your favor until the court case (DRT) is disposed.If the borrower is permitted to make settlement in OTS scheme, you may not be able to acquire the property at all.
It is better to cancel the purchase and get refund.