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Gru   04 January 2022

Pending amount of forfeited property not returned

I defaulted mortgage loan repayments of my apartment and after the notice period I agreed to forfeit my property. The bank told they would auction the property, collect their dues and return the pending amount to us. 

It has been a while the property has been sold and the bidder has paid the 100% amount, registry is completed and even moved to our apartment, still the bank has not returned our money.

They even lied that the full payment is not completed by the bidder, but we managed to find it by our source that is done

Can someone please advise us what to do in this situation


 3 Replies

Anaita Vas   04 January 2022

Filing Complaint against banks: If your bank is not paying heed to your complaints of unsatisfactory service being offered to you, you can file a complaint with the banking ombudsman; your guide to what you should do

You can file a complaint with the banking ombudsman. One can file a complaint before the Banking Ombudsman if the reply is not received from the bank within a period of one month after the bank concerned has received one's complaint, or the bank rejects the complaint, or if the complainant is not satisfied with the reply given by the bank.

The Banking Ombudsman does not charge any fee for filing and resolving customers’ complaints. The complainant can be filed by one authorized representative (other than an advocate).

There are federal rules and regulations that require banks to clearly, accurately and fully disclose all information around the services and products they have. Around the way their banking products work. As well as how they post and execute the transactions that are applied.

If a bank is caught- lying and or not disclosing this information. They can be held criminally and civilly liable for damages.



Anaita Vas

Advocate Bhartesh goyal (advocate)     04 January 2022

You can also knock the doors of Consumer Commission for banks deficiency in services and claim the amount which remains after adjustment of due amount towards you alongwith compensation towards mental and physical agony caused to you.

vijay kumar (lawyer)     04 January 2022

You can approach consumer commission/ombudsman /court in this matter. Please share  your communication with bank for further action. If your information is right than bank can be booked for forgery. you will get your comensation and whatever is due with Interest. 

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