Conduct rules
sathiya
(Querist) 18 October 2012
This query is : Resolved
X is a State Govt employee. his son has bought a house through bank loan by arranging the margin amount from his friends and relatives. X is the co-applicant for his son's housing loan.
X's service rule says that "no employee shall except after notice to the prescribed authority, acquire or dispose of any immovable property by lease, mortgage , purchase, sale , gift, exchange or otherwise either in his own name or in the name of any member of his family.
Explanation- the employee is not required to give notice to the prescribed authority or seek prior permission from the prescribed authority for acquisition or disposal of immovable property by the members of his family asper above clause, if the immovable property in question is not acquired from the resources of the Govt employee concerned.
Now my questions are:-
1)Will X is at fault for being a coapplicant of his son's housing loan
2)can X be asked to give any explanation on this if the purchase of house by his son is brought to the notice of prescribed authority?
3)Whether X has done any mistake in this
ajay sethi
(Expert) 18 October 2012
X should inform the state goiverment that he is the coapplicant of housing loan and the property has been bougt by his son .
although you are not required to inform the prescribed authority as you have not advanced any money to your son but as matter of abundant caution inform them .
it is better to play safe .
Guest
(Expert) 19 October 2012
Being a co-applicant for bank loan itself denotes that the son of the Government employee has acquired the immovable property from the resources of the Govt employee concerned to the extent of the share of loan of the Government employee, in the capacity of a co-applicant.
As such the Government employee is liable to give due notice to the prescribed authority not only for the use of his resources, but also for acquiring loan from the bank, as a co-applicant with his son. In this respect, probably you have not referred the provisions of other conduct rule, which is about the indebtedness of the Government servant. Better check the provisions of that rule also and do the needful as per the conduct rules.
Isaac Gabriel
(Expert) 19 October 2012
Here you are co-applicant.You ought to have sought prior permission for the same.If facts come to the fore before your appointing,you are liable for disciplinary action.Neverthless, you can inform the fact and seek post approval.
Rajeev Kumar
(Expert) 19 October 2012
I aggree with the opinion of above experts
Kirti Kar Tripathi
(Expert) 23 February 2013
The case is covered under the Explanation. The employee is not required to give any notice or seek permission.
Sudhir Kumar, Advocate
(Expert) 10 March 2013
Query is not clear:-
Whether Govt employee spent any money on deal?
Whether he is joint owner or only join loanee.
