Thanks a lot for all your replies dear law experts. We citizens are so grateful to all of you law experts for the kind of guidance/service you are providing to the community.
So the update I learnt from my family is that , as a first step the Bank has filed a cheating case on Aug 20th (mentioning some 10+ IPC sections) in the local police station against my father saying he cheated for an amount 1 crore 10 lakhs. My father did not surrender yet and is trying for bail. Would it be possible to get a bail for him ? Are there any conditions involved.
He was a President of a Co operative Society , from where the misappropriation/misuse of Funds have been done since 2008 and this got bursted now in 2014 . I heard that the same (old staff) Bank personnel(new manager of bank that took office recently filed case against my father) who were granting loans every year to this Co operative society also ate away some money in the form of Bribes every year. Even the auditors who audit also took bribes every year. But Case have been filed against the accountant of the Society and ex-president (my father) of the socitey only.
Although my father did make some debts and probably be responsible for 30% of the money,he needs to be out side and consult lawyers etc..Would it be possible for getting him a bail?There is no one else in my family to go around and deal with this .
The house was bought in 2005 for 11 lakhs taking a housing loan in some local private bank for Rs . 5,50,000/- (rest of the amount was arranged from savings of grand mother but no proofs as she gave in cash ,my father's funds were not used ) using my mother's name (she is a LIC agent) and the property also is registered on her name since then. Her monthly LIC commission is around Rs. 1000 only and the monthly EMI we have been paying since 2005 is Rs.5000/-. So my father definetly helped to pay monthly EMIs., as he is a govt employee and gets salary regulary around Rs.45,000/- per month. As a son ,using my own NRE funds I repayed outstanding Rs. 4,25,000 and cleared the housing loan in april 2014 and got the housing docs relieved from the local private bank.
Currently the cooperative BANK is planning to attach my Mother's name registerd property as an attachment to My father's case, claiming that the mis appropraiated funds were used to purchase the HOUSE on wife's name.
I am thniking the next steps for the bank is to seize the HOUSE which is registered on my mother's name??. Will my family be kicke out onto the road.There is no single property on my father's name...