Respected Experts,
I have a decree of 60 lakhs to be executed against "A". He had actually become owner and main developer of a land on which he had taken a few loans. I had recently done investigations where I am informed that he has secretively given the land ownership and development rights to one of the banks who had a charge on it. Issue is that the land is worth 30 crores plus and the bank charge was hardly 10 crores. Bank is a local cooperative society who are also doing parallel business of construction. Hence they secretively enter into a deal with "A". This person "A" was always a non-cooperative borrower and a wilful defaulter, but bank takes no steps for getting "A" declared as a wilful defaulter. From "A", I have to recover my decree amount but he has sold land secretively. There are also other claims against "A", intentionally he did a secretive transaction to evade all other claims. Bank is also not sharing any sale documents, says it is a private transaction and that neither they nor the land could have been used to satisfy other claims.
How should i move here..
1. Do i involve high court to challenge the secretive sale between "A" and bank and what other further legal actions can be done.
2. How can bank support a wilful defaulter and non-cooperative borrower and refuse to give them this tag. Can I as a third party seek this tag against "A" and act against the bank here through legal route.
3. What about so many other people and claims, who were relying on land as an asset for recovering their dues against "A". Can they remain perpetually helpless. How do we recover now from "A" when he has acted in conspiracy with bank. All claimants knew about land as an asset of "A" a few months after bank claims that they taken ownership of the land for development and construction. Can we also seek execution against bank
Please advise me. It is an extremely tricky situation.
