Hi, I am Vikas Malhotra from Chandigarh.
Question - My father purchased a flat in chandigarh around 9 years ago, We are currently living in the same.
We purchases the property legally and it was transferred to my father's name after following proper procedure with the chandigarh housing board. Suddenly , officials from Punjab National Bank(assets recovery branch,delhi) visit our property and tell us that the previous owner had a loan pending and this property is attached and will be auctioned..
Since we had enquired about the property from various sources and even the Chandigarh housing board had nothing against the same, we went on with the purchase process.. If the property was attached,, the bank should have followed a procedure and marked it as " not for sale" with the chandigarh housing board..
We filed a case in DRT,delhi and it was desided in our favor. The bank was directed to get hold of the previous owner since he was the one who had not paid the loan..
We had a sigh of relief untill the bank appealed in high court.. Now the case is under hearing and the bank officials are demanding 25 lacs from us as settlement.. Why should we pay if we have purchased the property legally..?? My family is facing too much harrassment as it is the only house we live in.. We have to visit delhi frequently for hearings... Is it not negligence on part of the bank,, that they did not foloow a procedure for attachemnt...
My question is - if the property was attached,, how come the sale of the same was poosible and how come chandigarh housing board had all the clearance.. The bank never reached any authority in chandigarh to claim its right on the property.. It is negligence on part of the bank,, then why should i suffer..??
Is there any rule which can take us out of this mess..??