Home loan
Advocate M J
(Querist) 10 December 2013
This query is : Resolved
Good morning most respected learned members,
The financial institution is not accepting my client's home loan EMIs, since a case has been filed against in the Magistrate Court. The institution has deliberately stopped receiving the EMIs continuously for 3 months inspite of my client sending the EMIs through registered post and even personally going to handover the EMIs.
Due to which the institution is planning to mark the client's home loan as NPA and further proceed under SARFASI ACT.
In this connection can I approach DRT to issue a notice to the institution to accept my client's EMIs.
Can I approach the civil court to issue notice to the institution to accept the EMIs or is there any other Court to approach for getting the EMIs accepted by the institution.
Advice how to help my client.
Thank you.
R.K Nanda
(Expert) 10 December 2013
file written complaint in said financial institution as to why they are not accepting EMIS.
BAALASUBRAMANNYAMM
(Expert) 10 December 2013
Take a Demand Draft in favour of the Bank, for the arrears of EMIs and send the same to the bank, through a covering letter sent by you, on behalf of your client and mark the same to its Regional Manager or send a copy to the RBI.
Rajendra K Goyal
(Expert) 10 December 2013
Well Suggested by the expert baala subrahmanyam ji.
However, from the query it seems that your client is not offering to deposit total arrears of defaulted EMI and trying to pay only 2-3 installment just to prevent the FI to proceed against SARFAESI Act.
Raj Kumar Makkad
(Expert) 10 December 2013
I do agree with baala and Rajender K. Goyal.
