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V Suryanarayana Raju (Managing Director)     28 April 2014

Claim for refund of money

Dear Expert,

Bank auctioned property on 8-1-2014 and final payment extended till 30-4-2014.  Still cases in DRT and CMM for posession of property pending including tenant unregistered lease agreement after mortgage deed.  In the circumstances mentioned above filed case in DRT for refund of money today 28-4-2014.  Can I pray DRT Judge only for refund of money or time for final payment till all court disputes settles.  It is a financial committment of 1crore no bank is coming forward to give loan.  Dealy is costing me more than Rs.70000/-per month.towards interest.  Request your sincere opinion in this regard.

 

Thanks

Raju VS

9885079984



 2 Replies

Advocate Ravinder (Advocate/Attorney)     30 April 2014

The bank has nothing to do with other disputes and your personal problems.  The auction will be done as per SARFASI Act (Securitization Act) under which the court empowers the bank to auction the property irrespective of the pending the main case or any other related cases. You can pray for refund of amount.  

T. Kalaiselvan, Advocate (Advocate)     01 May 2014

Yes the bankers can move as per the provisions of the SARFESI act and the help of CJM/CMM, it can go ahead with the auction of the property.  You can always petition for refund of your money.


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