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shivakumar (individual)     31 May 2014

Sarfaesi act on dual title deed

Hi All,

I have purchased a empty plot through auction as per sarfaesi from citibank. I got sale certificate registered in my name after payment of bid amount. Bank in its Auction confirmation letter, stated that physical possession will be given after registration. They have not given possession till date. In the meanwhile we observed that there is a building coming up on auctioned plot. Upon enquiery, it revealed as follows..

Government Granted some land to X and he got DC conversion and made layout of several plot. X made two layout plans on same survey number and with same site numbers. Example site no 23, in one plan it is having dimension of 30ft by 50ft and in another plan it is 30ft by 40ft. First he sold 30ft by 50ft to Y and later after three months sold 30ft by 40ft to Z. Then Z sold to A and A sold to B. A & B were aware that they were duped. B took loan from Citi Bank pledging documents and he didnt pay any EMI. Later citibank took possession and published for auction. I purchased through auction. But now Mr.Y is constructing a building. Now where do i stand. I approached police. They told me to write to Citibank about the issue and give them sufficient time to response. If citibank fails to respond , then I can file cheating case against citibank as they have sold the property for which they dont have any rights legally.

Even now if you take EC from regsitrar office for site 23 with different dimensions, one EC with 30 50 will show only X &Y,, other EC with 30 40 will show X, Z, A, B, myself

 

Somebody suggest what shall i do,, this is a peculiar case.. Citibank officials have not verified documents before sanctioning loan to borrower or they have duped bank by taking bribe. Mr.X is dead already.



Learning

 4 Replies

Ajit Singh Cheema (practising Advocate)     01 June 2014

Dear Shiva Kumar,

It is only my sincere advise that instead of getting involved in endless litigation ,both Criminal as well as civil cases ,it is my humble submission / suggestion for you to enter in to a compromise with your Banker being CITI bank, through which you may request the bank to repay the amount paid with interest @24.00 % PA or wherever it is settled, and get out of this situation.

If the Bank do not agrees, file a civil suit for recovery of your auction money paid by you with interest at the commercial rate and in the alternative for delivery of possession of the property under reference,against the bank. 

T. Kalaiselvan, Advocate (Advocate)     02 June 2014

You may follow the advise rendered by learned Advocate Ajit Singh Cheema or contact a local lawyer and proceed as per his advise as opined by me in the previous thread wherein you had repeated the said query under another heading.

Biswanath Roy (Advocate)     02 June 2014

You may request CITI BANK to repay you the valuable consideration of the property paid to Bank with interest instead of entering into the litigation. If god forbids, the Bank refuses to repay you can lodge a complaint before the appropriate cell of Reserve Bank of India.

shivakumar (individual)     13 June 2014

bank has replied that they are the owners of the property. They have replied that i should have verified before bidding. Now what shall i do,, Do i lose all money.. when I asked for possession, they are telling that for empty plot there is no possession handing over. once regsitered means possession is taken over.


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