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Tech (evo.ardent@gmail.com)     24 February 2011

bank seal my property loan pendin..help

 

i bought a property in mumbai in 2006 and after buying the property i gave adv in newspaper if any1 wants to clain something.
i m now the bonafied purchaser of the property but now bank has sealed the property saying that there is loan pending which is true but the loan is from whom i bought this property. the property is worth 90 lakh and bank is asking for loan of over 60 lakh which is not justified...i tried filling a case in court but no success till now...now bank is gonna keep the property for auction and i m gonna loose the 40 lakh that i paid to the person while buying the property. the auction is on 6th march..so please tell me what to do..i m in desperate need of help..my local lawyers hv tried but not much success...please tell me a way out..i can agree for a settlement of upto 40 lakh with the bank but they are not agreeing...what should i do...the loan is not on my name but on the person whom i bought the place from.
 
Any help from ur side will be whole heartedly appreciated.
 
Thank You.


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 4 Replies

sreenivas (Legal Advisor, )     24 February 2011

have u taken Encumberence certificate before buying the property or have u given an advertisement  in newspaper regarding if there are any objections on the said property 

Tech (evo.ardent@gmail.com)     24 February 2011

^^ thanx for ur reply 

i had given an advertisement in newspaper regarding objections for a duration of 15 days but nobody objected at that time :)

sreenivas (Legal Advisor, )     24 February 2011

have u verified E.C. in concerned registar office 

bhagwat patil (Property due diligence 9422773303)     25 February 2011

it is very hardship to u. first of all object the auction sale.find out the procedural lacunae in banks actions and get benifit of it call 9422773303 with details


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