Respected Sir/Mam
we are facing a serious harassment issue by Kotak Mahindra Bank.
Home loan is taken by my father and there are several co-borrowers including my mother and two brothers. Father, mother and one brother are co-owners of a property. my father/mother intend to foreclose the HOME LOAN on a priority basis, however the bank is not allowing us. My brothers had a credit card default for which bank has resorted to arbitration ex-parte fraudulent awards which are filed as decree before court for execution. These execution proceedings are already pending.
Bank does not co-operate to foreclose the home loan, they use SARFAESI ACT & delay foreclosure intentionally. Parallel, they send an official email stating that bank will not release the FLAT PAPERS till my father clears both home loan & credit card dues OF MY BROTHERS.
Please suggest if experts have any reference of RBI guideline in relation to this query or any other valuable input
Thankyou
