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Ak (Law)     05 May 2023

Regarding getting stuck in the property auctioned by the bank.

नमस्कार वरिष्ठों और गणमान्य व्यक्तियों

hello seniors and dignitaries

Can you please provide any information regarding this.

The house was auctioned by a bank and A placed a bet in it and he won. Later it came to know that the person whose house was auctioned had already filed a CIVIL Writ in the High Court for stay and he was granted that you deposit the outstanding amount within a stipulated time but he did not deposit any amount. on the next hearing, that person did not turn up, so the High Court gave the next hearing which was very far away. But even after all this, A has not done anything, so what should he do now so that he gets both the interest and the house, what kind of notice, application, etc. should he give and he do anything in the bank and court? What would you have done if you had on this place?



Learning

 5 Replies

T. Kalaiselvan, Advocate (Advocate)     05 May 2023

If the property in question has not been transferred yet to the buyer/bidder and the matter is pending before high court, he can file a petition to implead himself in the pending case as necesary party and seek to dismiss the petition filed by the original owner for the same reason that he defaulted to pay the deposit amount as instructed by high court. 

1 Like

P. Venu (Advocate)     05 May 2023

Has A complied with the conditions as to the successful bidder? What is the stand of the Bank as to the conveyance of the property?

1 Like

Ak (Law)     05 May 2023

A has followed all the rules and regulations of the auction and deposited the entire money in the bank after being successful in the auction, that too within time.

The bank has not yet got sale deed and registry done to any type A by saying that the decision of the court should be allowed to come. But A has to pay the rent of the house he is currently living in and also has to pay the EMI of the loan he has taken and deposited with the bank. Get it done, there is no guarantee in the future that the bank will return the registry money and you will not get interest on the money deposited by you so far.

T. Kalaiselvan, Advocate (Advocate)     05 May 2023

The bank cannot say that it will not return the amount collected by it if it could not execute the sale deed in favor of the bidder in auction sale.

The bank has done a fraud bny suppressing the information of a pending litigation in this regard when it brought the property for auction sale.

You have remedy throuigh legal process.

You can approach consumer commission for deficiency in service as well as  return of deposit amount with interest.

Alternately you can approach civil court with a suit for specific relief for execution of sale deed or return of money with interest.

Ak (Law)     08 May 2023

T kalaiselvan ji Thank you very much for you replying. 🙏

 

The auction took place in October and the money was fully deposited in December and the next date is July 27 in the ongoing case.

 

1. If after the High Court order on 27th July, after the Registry in our favor, we can take action in the consumer court to get 6 months interest money from the bank and can we get the interest.

Or even if we go to the consumer court even before the order of the court, will we get the interest amount? And later, when that defaulter has not deposited the money even till 27th, will he get the house too?

2. Is there any such cause (कैस/ case/ suit) order which can be taken as a reference, in which the person depositing the money in the auction has got interest on it as long as the money is kept in the bank and no charges have been deducted by the bank. If there is any such case, please provide me, I will be very thankful to you.


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