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Raja Shekar Reddy S. (Advocate)     21 November 2009

recovery of money

if husband/father obtained personal loans from private financial institutions/banks and he became defaulter,whether institutions/banks  can take attachment on property which is on his wife or son or daughters name, when they are living together.and they are not concerned to this loans & properties are also not mortgaged.



Learning

 10 Replies

adv. rajeev ( rajoo ) (practicing advocate)     21 November 2009

If the loan taken from the financial institution by ur father was for the family necessity then LRs will be liable to return it.  In ur case the loan taken by ur father is for personal use.  So legal heirs are not liable it is to be agistated in the court.

dhiraj choudhary (n/a)     21 November 2009

legal heirs are liable only if the father is dead.but in the aforesaid case it is not clear whether the father is dead or alive(sorry for using these words) if he is dead then leagal only heirs are liable who have inherited the property of the deceased to the extent of property inheriited by them

Sivadas Chettur (Chartered accountant)     21 November 2009

Absolutly not possible unless the wife or children have stood as guarantors or sureties.

Adv Archana Deshmukh (Practicing Advocate)     21 November 2009

 The person who has obtained the loan and the property that stands in his name is liable. Wife's or children's property cannot be attached if they have not stood as guarantors.

N.K.Assumi (Advocate)     22 November 2009

Agreement betwen the creditors and the barrower alone will speak, and no stranger to the contract can be made liable. Although in my State the position is different, as even stranger to the contract can enforce the contract and that also by acting as a judge over the matter between the creditors and the barrowers. 

PJANARDHANA REDDY (ADVOCATE & DIRECTOR)     22 November 2009

PERSONAL LOAN IS UNSECURED LOAN, IT IS DIFFICULT TO RECOVER IT, WITHOUT THE EXISTANCE (SHE IS NO MORE IN THIS CASE) CONCERN BOROWER, UNLESS SOME SURETIES AND GUARANTIES ARE PRIORLY OBTAINED.


(Guest)

NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE

MOBILE.09325226691, 09271971251

e.mail.adv.nbsawant@yahoo.co.in

e.mail.nandkumarbs@sify.com

REGARDING THE LOAN AMOUNT RECOVERY FROM WIFE AND SON KINDLY NOTE THAT

1.IF HUSBAND IS ALIVE AND PROPERTY OF WIFE AND SON IS NOT MORTGAGED THEN THE FINANCIAL INSTITUTIONS CAN NOT ATTACH THE SAID  RESIDENTIAL HOUSE PROPERTY  WHERE THE WIFE AND SON ARE STAYING .

IN CASE FINANCIAL INSTITUTION HAS ALREADY SENT SOME NOTICE THEN YOU MAY FILE A WRIT PETITION AT HIGH COURT AND GET THE SAID NOTICE STAYED AND QUASHED.

KINDLY NOTE THAT I HAVE SUCCESSFULLY GOT STAY FOR MY CLIENT WHO WAS SERVED NOTICE UNDER SECURITISATION ACT AND THE SAID RESIDENTIAL HOUSE WAS IN THE NAME OF HIS WIFE .

WRIT PETITION. WAS FILED AT HIGH COURT OF BOMBAY BENCH AT AURANGABAD IN PRAKASH S.AGRAWAL  VERSES  CHOPDA  URBAN COOP BANK LTD.

2 BUT IN CASE HUSBAND IS EXPIRED AND THE WIFE HAS GOT DEATH BENEFITS LIKE PROVIDENT FUND,GRATUITY AND OTHER BENEFITS FROM THE OFFICE OF HUSBAND THEN  FINANCIAL INSTITUTION CAN CLAIM THE LOAN AMOUNT FROM THE WIFE AND SON OF DECEASED HUSBANK TO THE EXTENT OF SUCH DEATH BENEFITS ABOVE MENTIONED CLAIMED BY WIFE OF DECEASED.

KINDLY NOTE THAT IN CASE ANY NOTICE IS RECEIVED FROM BANK A WRIT PETITION CAN BE FILED AT THE HIGH COURT AND HIGH COURT MAY INTERFERE AND PASS APPROPRIATE ORDER.

I HAVE SUCCESSFULLY GOT STAY ON SIMILAR NOTICE AND ATTACHMENT ORDER PASSED BY COOP.ARBITRATOR AND COOP APPELLATE COURT AT DELHI .WHICH ORDERED ATTACHMENT OF SALARY OF WIDOW OF DEACEASED HUSBAND WHO WAS A SCHOOL TEACHER AT DELHI.

I FILED A WRIT PETITION TO THE HIGH COURT OF DELHI, BEFORE THE DIVISION BENCH OF JUSTICE MANHOMAN AND J.MANMOHAN AND SAID BENCH WAS PLEASED TO QUASH THE ORDER AND AWARD PASSED BY ARBITRATOR AND SUBSEQUENT ORDER OF COOP APPELLATE COURT DELHI WAS SET ASIDE AND POOR WIDOW WHO WAS ORDERED TO PAY HUGE LOAN ARREARS OF ABOUT ONE LAKH FIFTY THOUSAND AND HER SALARY WAS ALSO ATTACHED., THE SAID ORDER WAS SET ASIDE AND QUASHED BY HIGH COURT OF DELHI AND SHE WAS ALLOWED TO PAY ONLY PRINCIPLE WITH BANK RATE OF INTEREST OF 10 %  INSTEAD OF 18 % AND EVEN ARBITRATORS COST AWARDED OF RS.10000/- WAS QUASHED AND POOR LADY WAS ALLOWED TO REPAY SAID ARREARS IN LONG TERM INSTALMENTS OF FOUR YEARS.

KINDLY NOTE THAT WHERE THERE IS A WILL THERE IS A WAY .HENCE YOU DEFEND THE MATTER SINCERELY.YOU WILL SUCCEED.

IN CASE YOU NEED ANY FURTHER HELP KINDLY SEND DETAILS

WITH BEST REGARDS TO YOU YOUR FAMILY AND FRIENDS

THANKING YOU

YOURS SINCERELY

NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE

 

sahni rajinder singh (proprietor)     03 July 2010

Can bombay high court attach residential property  . The property is tenanted and paying rent in trial court.

DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE )     03 July 2010

How Bombay High court comes in picture , as advised here the property of borrower and surities only can be attached. And for that also there should be court order which can again be contested by other interested persons who have lien on the property. For example you have borrowed from FI some money and thereafter also borrowed some money from your friends and other relatives even WIFE and gave written documents creating general charge on your whole properties even un-registered than in such circumstances they can also object for attachment.

P GOYAL (TRANSPORTER)     06 July 2012

Dear sir,

can husband's property (only house) or salary be attahced for wife's unsecured /collateral free commercial loan (loan under cgtmse).

can a women be arrested for his due under civil law?

 

 


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