Housing Finance Limited not giving loan cheques to sellers
Arvind Gupta
(Querist) 21 February 2019
This query is : Resolved
Branch Office , Bhopal of PNB Housing Fin.Ltd.is not giving already prepared loan cheques(mentioned in registered sale deed of house) to seller of house , even 20 days after , receiving original registered sale deed of 28-1-19, original registered sale deed of March 2006 of adjoining house on same size of plot of same purchaser/borrower and mortgage deed of 30-1-19.The dealing official told to seller of the house , for the first time i.e.after registration of sale deed that the cheques will be given only after production of letter of Namantaran(नामान्तरण ) of whole leasehold plot by Leasor M.P.Housing Board in favour of the
purchaser/borrower.Namantaran process may take 2-3 months.
Is there any way for receiving cheques, as early as possible, before Namantaran alongwith interest @9.5% , being charged from borrower upto date of receipt of cheques.
Arvind Gupta
(Querist) 22 February 2019
I request to learned experts for their advices
Arvind Gupta
(Querist) 25 February 2019
So far i.e.upto 24th Feb., not A single expert has advised me.I request all the learned experts for their valuable advices to me at the earliest
Arvind Gupta
(Querist) 27 February 2019
Please advise me soon
Arvind Gupta
(Querist) 28 February 2019
Advocates of Bhopal or other areas of India,who are experts as panel legal advisers of Housing Finance Companies are requested to advise me , how to receive cheques from PNB Housing Finance Co.Ltd.not given to us (Sellers of house) inspite of taking original registered Sale and Mortgage Deeds in possession before one month.They are telling only after registration of Sale Deed of house that cheques will be given only after Namantaran of whole leasehold plot in favour of borrower/purchaser by leasor M.P.Hsg.&Infra.Dev.Board.I had already sold ,adjacent house , constructed on half of the total plot to same borrower /purchaser in the year 2006.This time , I sold him house , constructed on remaining , half of the total plot.As per rule of M.P.Hsg.& Infra.Dev.Board,division of plot is not permissible,hence due to constuction and sale of house on half of the plot in the year 2006, Namantaran in favour of purchaser could not be done that time and whole plot is still on my name in the records of M.P.Hsg.& Infra.Dev.Board.Now owner of both houses on whole plot is same,hence M.P.Hsg.& Infra.Dev.Board can do Namantaran and transfer plot on his name, but due to late working culture and some unfare practice,Namantaran may take indefinite time and even some months.I am in urgent need of funds,hence I can not wait upto Namantaran.Hence I request Experts Lawyers to suggest and guide me to get cheques , at the earliest from PNB Hsg.Fin.Ltd.before Namantaran.
Raj Kumar Makkad
(Expert) 27 January 2020
In the light of the given facts, you need to serve a legal notice to the financer as there was no precondition of it to issue the Cheque to seller after the Namantran. This is clearly a violation of the condition. Banker can definitely obtain an affidavit from the buyer that he shall be responsible to get deposited the said document within the stipulated time failing which certain penalty may also be got imposed but fianancer cannot be allowed to one hand charging the interest on the borrowed money and on the other hand retaining entire amount with it.
