Builder defaulted bank loan

Querist : Anonymous (Querist) 26 April 2018 This query is : Resolved
Builder obtained a loan became NPA there are unsold flats. Bank did not disclose about obtention of NOC nor the builder. Banker has taken possession of 10 unsold flats. Will the banker enforce the security of other flats purchased by bona-fide buyers

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Ms.Usha Kapoor (Expert) 26 April 2018
No!The Banker cannot enforce the security of Bonafide purchasers of flats who purchased them for value and without notice. of builder having unsold flats and obtained a loan from bank became NPA OR ON THE VERGE OF bankruptcy.

Guest (Expert) 26 April 2018
If the Buyers Purchase is Registered complying the Stamp Duty formalities and procedures the Safety is ensured.

Dr J C Vashista (Expert) 27 April 2018
If you are seeking obligation from experts FREE OF COST you will have to disclose your identity as per rules of this platform.
No reply for an anonymous author.

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