SARFAESI SALE.......BANK ISNT GIVING SALE CERTIFICATE.PLS AD
gaurav
(Querist) 31 March 2010
This query is : Resolved
hello sir,
please advise me.on 5 march 2010 i bought a house on auction under SARFAESI ACT being the lone highest bidder and my price being over reserve price my bid was accepted n i was given a letter asking me to deposit 25% of sale price on the same day n remaing 75% in next 15days ie by 20/3/2010.(((it had a clause stating the bank can cancel my bid before i deposit the remaining 75% amount))) i deposited the remaining amount beforehand ie on 12/3/2010 n asked the bank for releasing sale certificate as per SARFAESI ACT the bank people didnt give sale certificate instead when i gave them an application for the same on 29/3/2010 on 30th march i recievd a cancellation letter dated 27 march with a check dated 25 march cancellation letter of the bid(earlier accepted and fully paid already) after 10 days of the deadline!!! and 18 days after full money deposition!!! with a payorder of the whole money by courier.it says"the bank has decided/authority has decided not to sell the property" the bank has cancelled after my depositing the whole amount which is against its own clause what should i do to get the sale certificate n the possesion of property.please advise.....thanks so much for your attention n time....
A V Vishal
(Expert) 31 March 2010
Approach DRT with a complaint against the Banker for cheating and not honouring the contract, you can claim damages also.
