Sa 14 May 2023

Property purchased via auction and refund

Hi,

I purchased a property via bank auction and its been one year bank hasn't issued sale certificate. The registrar is asking for NOC from local authority and its not issued to me directly, local authority is asking bank to interfere. Due to this my money is struck and I am asking for refund.

Considering this situation, I am asking for refund and bank authority is simply killing time by giving one or other reason. I have written an email to Finance Minister as well as RBI governor, raised complaint in online consumer forum and also raised query in RBI website. Still waiting for resolution

What is the next solution?

Reply Follow

2 Replies

Dr J C Vashista (Advocate) 14 May 2023

Issue legal notice followed by suit for specific performance or recovery through a local prudent lawyer.

T. Kalaiselvan, Advocate (Advocate) 15 May 2023

You have raised online complaint with consumer forum but it is not known whether you have filed the case.

It is also not known that what were the replies from various authorities with reference to your complaint made before them in this regard.

You have sent only emails to the bank but have not followed up with the bank through any legal process.

Therefore you may issue a legal notice to the bank demanding them to execute a registered sale deed on the basis of the auction sale of property, if they don't reply or comply with the demands made, you may file a suit for specific relief against the bank seeking direction to the bank to execute the sale deed in your favor or to return the consideration amount with interest till the date of settlement.