Enforcibility of Nagar Parishad patta for EM & SARFAESI

Saikat Sen (Querist) 15 March 2015 This query is : Resolved
Chotu Lal Gujjar offered a Nagar parishad patta to bank for EM creation.During field inspection it has been found that the use of the patta is commercial(hotel) but as per the patta it is written the use should be domestic not commercial.What should be the measures bank should take for EM creation.May NOC from Nagar Parishad is suffice for EM creation or any extra precaution is needed?

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Saikat Sen (Querist) 15 March 2015
Bank has all the relevant documents for EM creation.Main concern is the use of the property that mismatched with the use written in patta.

Rajendra K Goyal (Expert) 15 March 2015
Repeated query:

http://www.lawyersclubindia.com/experts/Enforcibility-of-Nagarparishad-patta-for-EM-SARFAECI-528361.asp#.VQWgjtKUePw

T. Kalaiselvan, Advocate (Expert) 18 March 2015
Patta will not confer the title on the party. Are you granting loan on the basis of patta or title document? The panel advocate of your bank will be having answers for your further queries, you may consult him/her.

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