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shivakumar.d (production manager)     17 August 2014

How to recover bank sold asset


i have taken long term loan to the tune of 29 lakhs during 1988 from the bank,due to unavoidable reasons,i could not pay the amount,it has gone upto 69 lakhs all inclusive interest,insurance,etc.They sold my asset to 14.5 lakhs during 1996 by making corruption(during that time somebody asked to buy about 54lakhs,but i said 75lakhs,so deal was not successful) ,then after i kept quit,still now it is in my name in RTC,now it is increased to 5 crores,is it possible to recover my property by means i.e by law,or paying sold amount with interest,becoz the bank is recovering my other assets which is not mortigauged which is in joint family,pls anyone suggest me in this regard,

with regards,



 4 Replies

Rangee (Lawyer)     17 August 2014

If you suspect any corruption or foul play in auction of your secured property you should have filed criminal complaint against the bank officers in the year of sale. Have you not approached DRT since serfesi law was enacted during 1996 it was very easy in 1996 to have got stay in the matter. If the sale is fraud please legal in the court with help of good lawyer and get back the property. If your name is still on RTC you may also file complaint before Revenue Authorities and stop further mutation of the property. Please pay you loan amount due negoetiate with Bank with a good lawyer you may get back your property.


shivakumar.d (production manager)     18 August 2014

Thank u Rangee for your suggestion,But the land is converted to industrial purpose,i constructed shed about 66 feet by 199 feet,height about 18 feet,they sold all my machineries ,land and bulding  to 14.5 lakhs during 1996,how can i recover the asset during 2014,now the value is nearly 5 crores,which court i have to approch,the corruption i can't prove,they have taken inside,pls suggest me in this regard

shivakumar.d (production manager)     18 August 2014

u can see my RTC from,district:Ramanagara,Taluk:channapatna,Hobali:Kasaba,Village:Thagachagere,Sy.No:212/1c2,u will get clear picture,pls suggest me after this

shivakumar.d (production manager)     22 August 2014

hello experts, pls give me good suggestion from considering above facts orelse make phone call 09008921785

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