Relief under consumer protection act.
Kunal Sarkar
(Querist) 18 June 2012
This query is : Resolved
A person opened a cash credit account of Rupees two lacks facilities in a reputed Bank and for opening the said account the bank obtained some securities, such as, one FDR of Rs. 25,000/-, one small portion of landed property as mortgage and the co-owner of the land stands as Guarantor and the bank also took signatures of his mother in some blank stamp paper.
Subsequently due to some reason the person could not repay the loan in time, as a result of which the bank attached the FDR and send notice to the account holder under SARFAESI Act, 2002 for attachment of mortgaged immovable properties and and after expiry of 60 days the bank authority published a paper notice for sale of the entire landed properties (apart from the specific portion of land mortgaged).
Thereafter the person repay the entire loan amount to the satisfaction of the bank and accordingly the accounts clearance letter was issued.
The the person approach the bank to with draw the land sale publication and return the singed blank stamp paper of his mother but the bank did not heed to such request. Then a letter given to their Head Office for such illegal publication and non-returning the blank signed stamp paper, in lieu of that, no communication is made by the bank authority but no reply was given to them.
For such illegal paper publication for sale of entire land their reputation in the society was badly effected.
my query is that,
1. Whether this facts comes within the preview of Consumer Protection Act ?
2. Whether the said illegal act of the Bank within the preview of Unfair Trade Practice as enumerated in Consumer Protection Act ?
3. Whether the person claim any compensation from the Bank for their said illegal acts ?
4. Whether the person entitled any better relief in any other law or before any other authorities ?
Devajyoti Barman
(Expert) 18 June 2012
1. Has the Bank withdrawn notice under SARFAESI Act? If yes then you can go under CP Act.
2. No
3.Yes but not under CP Act.
4.Yes under civil suit.
Shonee Kapoor
(Expert) 19 June 2012
Ld. Barman is to the point as always.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Kunal Sarkar
(Querist) 22 June 2012
After repayment of loan Bank issued clearance certificate but not withdraw the paper publication under SARFAESI ACT and in this respect the person requested the Bank authority but they did not heed to such request.
At this stage what type of relief the person entitled under civil law ?
