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RR Netha (ff)     11 October 2012

Property auction


Hi Sir/Madam - I have taken the loan of 23Lac  from ICICI bank in 2006 to buy a flat in Hyderabad.  I paid nearly 9 Lac towards interest/principle till 2009 May.  However, due to my personal issues I discontinued to pay the EMI and decided to leave the flat.

Yesterday I got a letter from ICICI bank stating that my flat has been auctioned for 22 Lac and they are demanding 16L more from me.  I

 please advise me what should I do:

1. Is it just they are threating me to pay 16 L

2. Would there be any legal actions if i dont pay the 16 L


3. Is there any way should I get back any amount to me

 

thanks



Learning

 1 Replies

RAJU O.F., (Advocate)     19 December 2012

If the property was sold without Notices to you, it was illegal. Please contact an advocate in your place who is conversant with DRT and SARFAESI proceedings to legally fight with the bank.


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