Kumar Kumar 06 May 2021
Dear Learned Members, I won the e-auction of a bank property and paid the EMD. But unfortunately i could not pay the remaining amount within 90 days because I could get bank loan, due to the auctioned property does not have patta, and it comes under land ceiling act. Since im not aware of this. but the bank which put auction knows before it.
Kindly advise, what will be the remedy for me.
Trivendra Sharma (Practicing Lawyer 9918411669) 06 May 2021
What do you mean by "I could get bank loan, due"?
Recall EMD with interest & damages caused due to concealment of facts & fraudulent sale of land covered under ceiling Act in consultation with Local lawyer.
Kumar Kumar 06 May 2021
Sorry its a typo error, "I could not get bank loan, due
Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 06 May 2021
1. Property Auction by Banks is conditions of "as is where is basis", which means excluding all Assets & Liabilities that may be related to the auctioned property.
2. As Buyer, you are legally bound to be aware before participating in such Auctions.
Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com
Kumar Kumar 06 May 2021
Dear Learned Members, can i get any case laws or judgement on above issue. Please share
Sankaranarayanan (Advocate) 07 May 2021
Normal course the bankers shall not given loans to unclear title property. so once again ascertain the facts. As for as the reason of delay payment you can put some request before the authority by genuine reasons.
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