Bank harrasing for emi, but not paying heed to genuine complain
ravi
(Querist) 16 December 2011
This query is : Resolved
Dear sir,
I have booked flat in noida, same flat has been sold to three differnt ppl by builder, and bank is not doing anything about it (they charge legal and technical fees for property). even putting things to bank notice, they are not taking action, so i stopped EMI.now they are sending letter to my employer through recovery agent.As per rbi circular, in case complain is genuine, bank must solve problem first. due to this hide and seek attitute of bank, not solving problem or replying to my complain, and only sending notice, is not "fair code of conduct". can i file case in consumer court. and if yes, pls suggest good lawyer in delhi, who can help me out of this.
RAJU O.F.,
(Expert) 17 December 2011
Query is not clear, as to whether loan for purchasing flat was availed from the bank, whether any identified flat was alloted to you, whether possession of flat given to you, etc. After taking loan from bank, if you defaulted against the agreed terms, then bank can proceed under SARFAESI Act and recover money by sale of property. If your alloted flat was sold by builder to third party and possession given to that party, then file criminal complaint against builder.
M V Gupta
(Expert) 17 December 2011
Generally Bnaks disburse the loan amount against deposit of title deeds for the property for the purchase of which the loan is granted. If the builder sold the very same property to another person/s, you should proceed against the builder and the new purchasers to protect your title but not lodge compalint with the Bank. Better consult local lawyer and take immediate action. The Loan repayment cannot be stopped. Of course the Bank also should take action to protect its interests as a mortgagee of the Property.
Guest
(Expert) 18 December 2011
When you say the builder has sold the same flat to three different persons, I wonder how the bank has a concern with your problem with the builder and why you want the bankers to take your problem on them?
If the bank has paid a loan to you on whatever fake or fabricated documents, you have to repay the loan. How do you feel the problem between you and the builder is the fault of the bank and sort out the same for you? Please don't try to misinterpret the instructions of the RBI, as the Bank cannot be expected to settle dispute between you and the builder.
Stoppage of EMIs would cause hardship only to you and not to the builder or the bank. Non-payment of EMI's can badly affect your own credit rating and your name would appear as defaulter on the website of CIBIL. That can result refusal of any loan to you by any of the banks and financial institutions in the whole of your life in future.
By writing such a letter, as attached by you, you have started to invite more problem for yourself only. On the bank taking such instance to notice can presume that you have taken a loan on fabricated documents, the bank can not only file a case against you for committing a fraud in connivance with the builder, but can also insist you to repay the whole outstanding amount of loan in lump sum.
So better, settle the problem with the builder yourself and restart paying your EMIs to bank.
ajay sethi
(Expert) 18 December 2011
i agree with gupta ji and dhingraji .
you cnnaott stop making payment of EMI to bank if you find that builder has sold flat to 3 persons . you have to file case against the builder . issue him legal notice and take appropriate civil /criminal proceedings against him .
