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Vinesh K Chhaya (ADVOCATE)     11 June 2011

To Sell Mortgaged Property is Criminal Offence?

MY CLIENT BORROWED LOAN OF 2,25000/- ON ONE FLAT(IMMOVABLE PROPERTY) AND AFTER THE OUTSTANDING AMOUNT BECOME 3,75,000/- HE INFORMED TO BANK THAT HE WILL PAY THE DUE AMOUNT AFTER SELL HIS MORTGAGED PROPERTY. BANK HAD NOT REPLIED HE WROTE AGAIN THAT HE HAS TO LEAVE THE CITY AND HAS TO SETTLE IN OTHER STATE SO HE APPOINTED A POWER OF ATTORNEY FOR DEALING OF HIS PROPERTY WHICH IS MORTGAGED IN BANK. THEN BANK REPLIED THAT THE POWER OF ATTORNEY WILL NOT ALLOW TO PAY DUE AMOUNT INSTEAD OF LOANEE. THEN MY CLIENT WENT TO DEBT RECOVERY TRIBUNAL THROUGH HIS POWER OF ATTORNEY AND DRT ORDERED TO DEPOSIT MONEY AND HE PAID AS THE INSTRUCTION OF DRT. THENAFTER BANK PREJUDICALLY MADE COMPLAINT IN RELAVANT POLICE STATION FOR THE CHARGE OF SECTION 420 (IPC),

ACCORDING TO MY EXPERIENCE THIS IS A MATTER OF CIVIL NATURE

CAN ANYBODY GUIDE ME ABOUT THIS MATTER THAT IS IT A CRIMINAL OFFENCE OR CIVIL DISPUTE?



Learning

 3 Replies

Amit Divekar (student)     11 June 2011

Prima facie it is a criminal offence.

ahmed (document writer)     11 June 2011

The owner is having right to appoint attorney for the look after the affirs of the bank loan and also for the property if the owner transfer the ownership in favour of third party the bank have absolute right to file the criminal case against the owner.  

Ashok Yadav (Lawyer)     13 June 2011

Appointment of Power of attorney holder is not a offence. Any one can appoint a person as his attorney to do all incidental act related to property and no one can challenge it. Bank can not file case u/s/ 420 on the pretext that you has appointed a power of attorney to deal with the matters related to the land.


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