Debt recovery/banking
uttam bhartiya
(Querist) 20 November 2011
This query is : Resolved
sir,
my father had taken a loan of 6 lakhs from sbi in 1999 home loan and bought a flat.which due to number of reasons could not be paid on time.it was initially paid by with time payments could not be made on time.the title deed or the sale deed is not signed and submitted.the cheque that was given was in the favour of the builder.the registry of the flat has still not been done.now the case has been lodged in 2004 at 8laks64 thousand.in the mean while recently they have shown possesion and also invited tender for the sale of the flat..in the mean while the case is still under process and no such verdict of court has come.7dec is the last date for tender.this is our only house.and also since last two years we are approaching bank for settlement but every time they refuse.now they are demanding 18 lakhs.what can be done.how can they take such step when they dont have the sale deed /title deed of the flat.also the case is pending.if the case is lodged at 8 lakhs how can they damand 18 lakhs.?please help me sir.
adv. rajeev ( rajoo )
(Expert) 20 November 2011
Issue legal notice to the Bank and also file a case in DRT to get stay the tender.
Kiran Kumar
(Expert) 20 November 2011
the bank must have proceeded under Section 13 of the Securitisation Act....under this act the jurisdiction of civil court is barred.
better take the notices to some local lawyer and file an appropriate application before DRT if needed.
dont delay the matter otherwise you ll loose your property.
Guest
(Expert) 20 November 2011
Dear Uttam,
Please realise the seriousness of the case rather than making mere presumptions. Even if the case is under trial, unless their is any stay against auction, the trial cannot hinder in bank's recovery plan.
So, first of all try to get a stay order against tendering and auction process of the bank, otherwise it would be quite late for you to reverse the damage done to your property case.
Secondly, the case for 8 lakhs was in the year of 2004 (not in 2011), that does not mean the bank would stop levying interest due on the outstanding amount till the recovery is actually made, unless interest is waived off by the bank. Interest would continue to grow to your disadvantage, if debt is not cleared, even if the trial case takes another couple of years.
Shonee Kapoor
(Expert) 20 November 2011
no reason to differ
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Nadeem Qureshi
(Expert) 20 November 2011
Dear Uttam
Firstly tell about full detailed about the case its under SARFAESI or under CPC, if its under sarfaesi the rules is differ and if cpc the rules is differ. we can give you best opinion after clarification.
feel free to call
prabhakar singh
(Expert) 21 November 2011
yes, i do agree experts query reply
RAJU O.F.,
(Expert) 22 November 2011
Presume that while civil suit was pending, bank took proceedings under SARFAESI Act and put the property for sale on 7th Dec. Immediately file appeal before jurisdiction DRT through an advocate conversant with SARFAESI laws and prevent the sale.
