Minor error in flat registry and house loan
amit
(Querist) 08 September 2014
This query is : Resolved
Dear sir,
In jan-2014 i purchased a flat. But payment of money was done from different check, then that of the check no. mentioned in the registry. I had 28 lakh loan from LIC. 20 lakh as house loan and 8 Lakh on renovation. Now LIC is not giving us 8 Lakh Loan because they are saying that you have to furnish the correction deed because the check no. furnished in the registry is different then the payment check no.And Builder is not ready to give the correction deed. I have also send a legal notice but the builder is not receiving the notice. What to do to get that 8 lakh Loan from LIC.
Devajyoti Barman
(Expert) 09 September 2014
Another professional query from the author.
Rajendra K Goyal
(Expert) 09 September 2014
Try to satisfy the Bank through the account statement, copy of the cheque given to the builder and notice served to the builder. This is minor mistake which can be overlooked easily.
ajay sethi
(Expert) 09 September 2014
approach another bank for loan
ajay sethi
(Expert) 09 September 2014
in the alternative inform builder that you are willing to pay legal fees for preparation of rectification deed
Raj Kumar Makkad
(Expert) 09 September 2014
Avail the loan facility from another banker instead of executing the ratification deed as the same is riskfree.
T. Kalaiselvan, Advocate
(Expert) 13 September 2014
You may follow the advises rendered by experts above to solve the issue. What is your legal adviser's opinion on the subject?
Anirudh
(Expert) 13 September 2014
The LIC is taking you for a ride!
If you can prove to LIC that the original cheque given by you and mentioned in the Registered Document got dishonoured due to signature mismatch and you have given another cheque and both these can be properly linked and co-related, the LIC should not raise any hyper-technical issues.
However, you may call it 'minor error', but even that minor error has landed you in this type of problem. So, do not take things for granted. How can you sign a cheque with such variation? If your sign varies in that case you ought to have taken precaution to obtain DD for making payment (even if it involves some small amount as DD charges) to the builder. I am sorry to say, but now a days people are in a tearing hurry, ignore important points, and then land up in unthinkable problems and try to get legal solution. Legal solution in those cases are not readily available and even if available it will be costly.
In your case, all that will happen is that you will not get Rs. 8 lakhs as loan towards renovation. You have already made payments of Rs. 8 lakhs to the vendor. You will be running short of Rs. 8 lakhs which you might have kept for some other purpose. But this is the small price which you have to pay for the 'minor error' committed by you.
Raj Kumar Makkad
(Expert) 13 September 2014
Generally companies do not go in depth of the reason of the dishonour and do mark such person in the list of 'defaulter' hence better to move to other institutions for the purpose of loan facility.
