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Neeraj Thareja   25 November 2017

Legal advice required on disputed property

Hello All,

I am in a big problem and would request you to help me out at your best.

2 years back I invested in a property at Greater Noida. I made a down payment of about 3L and 10L were taken as a Loan from the bank ICICI.

It was a construiction Link Plan and I thought it would be a nice investment but now 2 years have gone and teh builder had run away and I am not able totrace him. Since last 4 months I have also not paid the Installments considering it's going to be a sheer wastage of money.

However, recently I have got a Legal notice from the bank suing me for not making payments on time as Bank has also threatened me of filing CIVIL Suit case against me. Even after explaining them the entire situation they have simply refused to take any action against the builder and have asked me to make payments on time.

As per the Bank I cannot do anything as the allowed possession period has not been finished yet. 

I am ready to make the payments but I am sure I will never get this flat as the Builder has been absconding since so long.

Kindly help me and guide me the right way of pusuing with this situation.

Regards,

Neeraj Thareja

9810332986

neerajthareja26@gmail.com

 

 

 

 

 

 

 

 



Learning

 3 Replies

Vijay Raj Mahajan (Advocate)     25 November 2017

First lodge criminal complaint against the builder in police, register FIR against him. Pay the bank instalments otherwise you'll be in trouble from their side too as they have taken signed bank cheques from you which they will deposit in your account and if any of these get bounced they'll take no chance and file criminal case against you u/s 138 NI Act. The recovery suit of complete loan amount will also be filled against you and you'll be bound to pay that otherwise execution order can result in your imprisonment too. Rest try to find whereabouts of the builder in order to recover your money from him. NOIDA is hub of criminal builders and colonizers, see what all happening in Supreme Court in such cases.

KISHAN DUTT KALASKAR (Advocate)     25 November 2017

Please follow the advise of Mr. Vijay Raj,  by the by try to file a suit against the builder and that the property under construction to be taken into custody of court and kept under the supervision of  Court Receiver.

1 Like

(Guest)

1) Bank is interested to recover their funds , Generally while signing documents with bank person sign them without thinking and bank also insist that this document is cleared by their legal dept. and hence apart from this they don't have other option . In all their documents they keep some kind of clause for such unfortunate circumstances and that clauses are in favour of the bank.  This myself telling without examining any document. 

2) Now you are facing the two-sided problem. At one end bank and another end Flat/builder. 

3) First don't invite bank problem for some time, continue paying them immediately.  Second, send the required bank document for legal analysis with person specialized in banking matters

4) Second immedately start criminal proceedings against that builder , filing of FIR is not like going in ticket counter and getting ticket , local police station in reality will do time pass , Catch proper Adv. who can assist you in doing proper formalities 

5) Third start civil proceedings too, as Retired Hon. Judge stated above

6) Fourth try to meet some senior Police officer who can speed up the investigation, goal is to track first that builders relative then him.  He will run that is sure , but they can track them via their soft links like relatives, etc.  because my little experience which I saw they get criminal not directly but indirectly this is their habit of the police dept. means they may detect their close relative , friends , well wisher  and then from their link they catch such people , or they can jot down his modus operandi and instead of going behind him they can analysis where next he can do crime their they may try directly. 

7) Fifth after analyzing the bank document which you signed you may think and try to make a one-time settlement with the bank,  These powers are with higher up of the bank.  Means stress asset bank some time enter into the one-time settlement,  in another case bank officer itself approached party for settlement because they were sure to lose the money, still, the party was not interested to settle stating let the law take its own course, and bank officers were losing their hope of recovering money.  But in your case bank will try to recover money from you and this will be difficult so better try for one-time settlement with bank , you can contact some person specialized in banking, DRT matters 
 


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