Suit files by bank in drt against me
Hitesh Mehra
(Querist) 02 March 2016
This query is : Resolved
Hi everyone, I booked a flat in ghaziabad in 2011 with promise of possession in 2013, but I did not received possession in 2013. After sometime I came to know that builder has sold same flat to another buyer too. Builder has sold other flats also of same project to another buyers. I became very tense and stopped bank EMI. I was in thought that bank would pressurized builder to do registry in my name because I stopped payment due to non-receipt of possession. But bank sent me legal notice, which I ignored and finally bank put my case in DRT.
This was tri-party agreement. Kindly suggest what should I do now.
thanks
Devajyoti Barman
(Expert) 02 March 2016
Have you made any ground check to find out your information to be true or false?
Without verifying the veracity of such information you seem to have committed wrong.
Anyway now since you are defaulter in making the payment the Bank can attach and sell the flat to recover the dues.
Hitesh Mehra
(Querist) 03 March 2016
In 2014 I visited the location, there builder's employee was sitting. I inquired about my flat, he checked his system and told that flat is showing in another person name.
The builder was arrested by police recently for multi-selling of property on complaint of a bank and now he is on bail. The builder having so many FIR's against him.
Pls suggest what should I do now.
Rajendra K Goyal
(Expert) 03 March 2016
Bank deals in money and not with the builder, if you have defaulted the EMI Bank is justified in initiating the recovery proceedings.
Hitesh Mehra
(Querist) 04 March 2016
Sir, Please suggest would my reason of stopping EMI due to builder's fraud (multi-selling) and not giving possession on time be justifiable
Bank has sent me loan cancellation letter in 2014 and asked builder to sell the flat and pay bank loan amount as per agreement between bank and builder.
Pls suggest
Hitesh Mehra
(Querist) 05 March 2016
Sir, Please suggest would my reason of stopping EMI due to builder's fraud (multi-selling) and not giving possession on time be justifiable
Note: Bank has sent me loan cancellation letter in 2014 and asked builder to sell the flat and pay bank loan amount as per agreement between bank and builder.
Pls suggest
Rajendra K Goyal
(Expert) 06 March 2016
Under which term of the loan agreement, you preferred to stop the installments / EMI.
Your step was wrong, please go through the terms and conditions of the loan agreement.
In case of default Bank has right to recover its loan by any / all avenue available to it legally.
