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Gurmit Chadda (DCL)     14 December 2011

Society not issuing noc as per banks format for mortgage

Hi am Gurmit Chadda, am new to this site. I am facing issue with my society not issuing NOC as per banks format.  They are telling me that there are some points that is for builder and not for them and also some of the points are already covered in your registrations agreement and in OC. Below are the points for your reference on which they have issue...

 

1.       The land is yet to be conveyed in favour of the society. Flat No ________ measuring ________ sq.ft. built up area situated on ________ floor of the above building is owned & possessed by Shri/Smt. ________________________ the Transferor. He/She is entitled to a firm allotment of a flat no. ________ measuring ________ sq.m/ft.

2.       In the event of default by the Buyer/s Mortgagor/s if the Bank, enforces the security by sale, the society would accept the purchaser/s of the flat as a member on such purchaser/s complying with the necessary requirements for becoming a Member of the Society.

 

 

3.       We will not issue duplicate Share Certificate/s to the above transferor Shri/Smt. ________________________ And/or transferee Shri/Smt. ________________________ without obtaining the prior written consent of the Bank.

 

 

4.       We have no objection for Shri/Smt. ________________________ (Transferors/Vendors/Sellers) to transfer the said Flat No. _____________ to Shri/Smt.  ________________________ (Transferee/Purchaser/Buyer).

 

5.       We also confirm that we have complied with all the conditions set out by the local authorities while sanctioning the layout plan etc.

Now I am not sure what to do in this case.  I tried convincing both the Society and the Bank but they are not ready to come on a common ground.

Any suggestion would really appreciate.



Learning

 2 Replies

V R SHROFF (Sr. ADVOCATE Bombay High Court Mob: 9892432152)     14 December 2011

Gurmit,

Your Point No. 1 to 4, is OK, and Society should not have any objection.Point No, 5, the Society was not born till than, andcannot certify, unless builder or BMC  certify so. 

You let me know, what objections Society have to certify Pt 1 to 4, and what they say about Pt 5??

 

This usually happens with all Bank Loan Transfers. 

Bank Demand all Legality, and Society do not have it, Lke lan Pass. OC, Conveyance, and Society cannot certify a false statement, just to help you., Ultimately why Society do so, and take the risk for no gain?? 

Gurmit Chadda (DCL)     27 December 2011

Thanks Mr. Shroff,  I am able to get the NOC as per banks format thru society.  Actually I have gone thru other NOCs given by society and they have already issued such NOC without concerning the committee members as it was urgent case.  I have challenged them on the same and now they are ready to issue it as per the banks format.

Again thanks for your valueable reply.

Regards,

Gurmit Chadda


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