Notice received under sarfaesi act
Sunder Aggarwal
(Querist) 25 September 2015
This query is : Resolved
A Loan against property was taken by my father in 2009. We just paid two installments. My father had problem of High Diabetes, so we could not able to repay the loan installments. Therefore bank issued a notice under SARFEASI and We have submitted an application for One Time Settlement with all documentary evidences related to my father’s sensitive health. Bank manager advised us to appear in a meeting to be held for settlement of unpaid loans. We explained our financial position and the sensitive stage of my father’s health to the chairman of the bank, in the meeting. Then, after considering the facts he settled our loan for a certain amount with a condition of deposition of the same by 31st March 2014. He assured us that your loan account will be closed and mortgaged documents will returned to you soon. Branch Manager was present at the time of settlement. According to the settlement we deposited the commited amount within time. After that, we met Branch Manager so many times to close our loan account and return our mortgaged papers. But, neither the loan account is closed nor the mortgaged papers are returned to us till today. We write to the chairman of the bank to take action in this regard. But all in vain. We shocked when Branch issued a notice for recovery of said loan within 15 days, by defaulting which further proceedings will be initiated. After 15 days the officials of Branch placed a Possession Notice outside our house. Sir Please provide a solution if any thing can be done in this regard.
RAJU O.F.,
(Expert) 26 September 2015
Immediately prefer a Securitisation Appeal before jurisdiction DRT through an expert advocate, challenging the possession notice. You must have sufficient grounds to convince the judge, to prove that the loan was closed as permitted by the bank's chairman.
DR.VEDULA GOPINATH
(Expert) 26 September 2015
sir
Do you have an evidence of one time settlement of your dues befodre
Chairman or Branch manager.
If it is so, please do approach with a complaint filed befodre Banking Ombudsman
whose office will normally be located at the RBI regional office.
In the absence of written evidence, you have to fight the case before Hon. High Court.
dr vedula gopinath advocate/arbitrator vgnath@gmail.com
Dr J C Vashista
(Expert) 27 September 2015
It is very important to know whether you have "some" evidence to prove "One Time Settlement" with the Chairman/Branch Manager?
Further to the "settlement" how did you repay the loan/settled amount?
Contact, consult and engage a prudent local lawyer for proper analyses, professional guidance, advise and proceeding in your case.
Rajendra K Goyal
(Expert) 27 September 2015
If the facts given by you are true, it is strange for an officer of this high rank. If you have evidences of one time settlement approval from the Bank, legally your case is strong.
Reply the notice through your lawyer.
Rajendra K Goyal
(Expert) 27 September 2015
If the facts given by you are true, it is strange for an officer of this high rank. If you have evidences of one time settlement approval from the Bank, legally your case is strong.
Reply the notice through your lawyer.
Sunder Aggarwal
(Querist) 28 September 2015
Sir, we have no written document as evidence in this regard. Further, We have repaid the settlement amount by depositing cash at nearest branch. We have sent several emails to the Chairman of the bank in this regard. But no reply received from the chairman's office. Please advice accordindly.
DR.VEDULA GOPINATH
(Expert) 29 September 2015
you can give complaint to Banking Ombudsman
and RBI
dr vedula gopinath advocate/arbitrator
vgnath@gmail.com
.
RAJU O.F.,
(Expert) 29 September 2015
If bank issued Possession Notice, going to any court or Ombudsman, other than jurisdiction DRT, is a waste of valuable time money, energy and mental agony. Please proceed as I had advised earlier.
krishna mohan
(Expert) 30 September 2015
You can apply through RTI for the proceedings on that particular date. Proceedings reflects your claim you may stand a better chance to fight it out. You may complain to Ombudsman of your region also. Taking help of experienced legal professional will help you a lot.
