Hi, Recently I have purchased a property thourgh IDBI bank on my Salary profile. Bank sanctioned me loan of 40laks for that property. after 3 months i came to know that it is a fake property. Five years ago i have purchased another property, and there were no defaults to the old property. Now that the new property is a fake property, i stopped the EMI of the new property,
Bank sent me the notice under section 13(2) chapter III.
My concern is will the bank has all rights to take my old property?
