bank recover for other person loan
sanjiv
(Querist) 30 June 2009
This query is : Resolved
Dear Sir
My father in law purchased a residential property from Mr shyam on 22-03-05 in meerut , Mr shyam Is having a loan of around 4 lakh from State bank of india ( meerut )so my father in law repay the amount of 4 lakh through account transfer to mr shyam loan account & pay 2 lakh in cash to him & got the papers from state bank of india & we had done the registery.
After 2 years now Punjab & sindh bank of meerut comes with one notice that they are having the loan of around 3 lakh which they had given on this property on 12-02-02 to Mr jaipal & he had not repay any amount to Bank, now they need the possession,
We had filed the case in civil court in meerut court on 01-11-08 but till this date after one year also we had around 7 dates but no representative of bank bother to come in court, on 25 -6-09 bank had publish a notice in local newspaper that this property is having a debt of bank & noone purchase this property ( Sec 13 of sarfasi act )& name of the loan holder is Mr jaipal.
We had purchased this property from the bank original papers are with state bank of India & we had taken the NOC from SBI & we had taken the barasalah from registrar which there is no charge is created of Punjab & sindh bank in any year.
Kindly guide us on some of my doubts-
1. we have to file application to high court for SARFASI ACT appeal , if yes what we will pray in that appeal
2. This is contempt of court because this case is pending in court
3. what should a person due care when he is purchasing the property from bank because bank also not provide loan on same property if there is any pending loan.
4. My father in law is senior citizen & having only one daughter.
Kindly guide us because we need some expert advice on this, what should we do because we are of no fault
Thanks
Sanjiv
A V Vishal
(Expert) 30 June 2009
Dear Sanjiv
You have not mentioned what type of loan did Mr Shyam have with State Bank of India, and what papers were with the bank. If it is the documents of the property then why did not SBI check whether the property is mortgaged previously. As far as the notice is concerned I suggest you to send a notice to the bank through your lawyer and also complain to the court against the publication of notice under Sarfeasi Act and obtain restrain orders against PNB Bank.
Y V Vishweshwar Rao
(Expert) 30 June 2009
File an application/Appeal in DRT and obtain stay on the sale proceedigns by the Bank
Kiran Kumar
(Expert) 30 June 2009
Mr. Rao is correct......the remedy available with u is to approach DRT, no need to complain to the bank.
well the principle of buyer beware applies to u as well....
find out whether the second loan was raised after or prior to the purchase of the property.
if it was after ur purchase the liablity shifts to the bank.
under SARFASI act the jurisdiction of civil court is barred.
since the publication has been made that means the property has been put to auction under S.13 (4), better contact some lawyer immediately and proceed accordingly.
even if u end up in paying the amount to the bank, u can recover the same from the previous owner by way of Suit for Recovery.
SHYAMSUNDAR
(Expert) 30 June 2009
As my above friends have rightly asked u to move to DRT
u can even file an application for contempt of court in the civil suit if injunction is granted to u.
a.manoharan
(Expert) 01 July 2009
Mr. Rao is correct......the remedy available with u is to approach DRT adding both the banks as parties.
Further , find out whether the second loan was raised with the permission of SBI and the same has been revealed out you before the purchase of the property.
Find out any bogus documents were deposited to either Bank as original
Due to Lis Pendense , any further transfer is invalid as per law .
After filing application DRT , you may approach even HC depending on the circumstances of the case.
Please let experts discuss the necessity for filing an application for contempt of court in the civil suit if injunction was granted .
since the publication has been made that means the property has been put to auction under S.13 (4), better contact some lawyer immediately and proceed accordingly.
you can recover the same from the previous owner by way of Suit for Recovery.
Thank the Contributor
sanjiv
(Querist) 06 July 2009
Dear Sir
Kindly find some of the fact on this query that
1. Mr Shyam took the loan on that house by mortgage that house to SBI Bank & original papers of that property are with SBI & we took the papers from them & after that we make the registery in tehsil.
2 second loan ( SBI )was made prior of the property purchased by Shyam.
3.How we approach DRT
