Vikkey Singh 22 February 2020

stoppage of emi

Sir I have stopped my emi of home loan, because oc was not given by the builder, what can be the consequences and what can be done in that regards please let me know

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Quick Summary

If you've stopped paying your home loan EMIs because the builder hasn't provided the occupancy certificate, you could face legal action from the bank, including criminal charges or debt recovery cases. It's advisable to take action against the builder by sending a legal notice and filing a complaint with the consumer forum. Regularising your bank account by paying pending EMIs with penalties is crucial to avoid losing the property.

3 Replies

Adv Haresh Raichura (Advocate on Record) 22 February 2020

1) Criminal Case for stoppage of EMI.
this Act is similar to NI Act

2) Debt Recovery Cases or

3) Sarfaesi case if property is also mortgaged.

SHIRISH PAWAR, 7738990900 (Advocate) 23 February 2020

Dear querist,

You will have to face legal action face from bank. You have to take legal action against the builder. Send legal notice and file complaint before consumer forum.

Regards,

Raj Kumar Makkad (Adv P & H High Court Chandigarh) 23 February 2020

Banker is not concerned with CC which is the liability of the builder. Better to get regularized your bank account by depositing all pending EMIs with penal interest failing which you may face even entire loss of that propwrty.

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