Recovery of bank loan
Harshpal
(Querist) 01 April 2012
This query is : Resolved
The central bank of India has initiated recovery proceedings against us under SARFAESI for the recovery of a loan which was never disbursed We have written to the bank officers, bank cmd, board of directors number of times. We have not received any response. Now the bank has given auction notice.
Is it not fraud to initiate recovery proceedings for a loan which was never given?
Can we file a police complaint against the bank officer for this?
SAINATH DEVALLA
(Expert) 01 April 2012
Dear Mr.Harshpal,
How come a bank like central bank of india is so ignorant,regarding a loan that was not sanctioned.Immediately file a complaint in the consumer court and also at the banking ambudsman.
Kiran Kumar
(Expert) 01 April 2012
prior to making any complaint with the ombudsman, approach Debt Recovery Tribunal Immediately.
otherwise, in the mean time, the Bank may sell off the property.
dont delay the matter and seek stay of proceedings under SARFAESI Act.
Harshpal
(Querist) 01 April 2012
Dear Mr. Kumar
We will approach drt but can we simultaneously file police complaint
R.K Nanda
(Expert) 01 April 2012
Yes, you can file police complaint also.
Shonee Kapoor
(Expert) 02 April 2012
Yes, you can lodge police complaint, file for damages by civil suit and many other things.
But rush to DRT first and save the property.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Harshpal
(Querist) 02 April 2012
under which sectionWe can file police compaint?
PARTHA P BORBORA
(Expert) 02 April 2012
in my opnion you should appear before the debt recovery tribunal first. There after write a letter to the bank ombusman, as soon as possible. You may file a criminal case too and if u do so burden to prove your case shall lie on u, and if you appear before debt recovery tribunal the burden to prove the case lies on bank. And banking ombusment is the proper platform in your case.
Santosh Goswami,Advocate
(Expert) 02 April 2012
Proceed in following manner
1. File an application in Debt Recovery Tribunal for stay immediately.
2.Give a complaint to the banking ombudsman.
3. Register an FIR/Complaint with the police to stop the bank.
After that only, later on you can claim damages or compensation for mental harassment.
919555462995
Guest
(Expert) 04 April 2012
Your question does not seem to give clear facts. A question arises, how a bank can auction your property if that has not been mortgaged to that bank that too without applying and having taken any loan?
Have you also checked from your partner or family members, if the loan was duly granted and any of them would have taken payment and utilised by mortgaging the property to bank?
Would you please give full facts of the case. Any advice without knowing full facts may not prove you beneficial.
Harshpal
(Querist) 04 April 2012
You are right in fact the bank has included three loans in its Demand Notice under SARFAESI, one of the loan was not disbursed. The bank knows its omission that is why even after taking possession two years back they did not give auction notice now new Authorized officer has come he not knowing the background has given Auction Notice
Harshpal
(Querist) 04 April 2012
Regarding Mortgage there is legal issue new agreement was signed as per the bank’s sanction letter dated 07/02/2009
As per that sanction letter there is no condition of mortgage, no fresh mortgage was done after new agreement. No recital was done done after new agreement.
our contractual obligations to the Central Bank of India are as per the bank’s sanction letter dated 07/02/2009 and documents executed thereof. As new contract was entered into between the bank and the applicant all the contracts signed before 07/02/2009 need not be performed. It is well settled that under Section-62 of the Contract Act, if the parties to a contract agree to substitute a new contract for it or to rescind or alter it, the original contract need not be performed.
Guest
(Expert) 04 April 2012
Dear Harshpal,
Your case has been complicated, may be by your own doing or by the clever acts of the bank. But, be aware, part facts being given in piecemeals by you cannot provide any solution to your problem, rather can create misunderstand of the legal requirements and would lead you towards more complications. Naturally, getting replies on half baked facts would prove to be harmful to your own interest.
So, it will be better for you, if you hire services of an expert to discuss your case in detail along with providing copies of related documents/ agreements for his examination. Your case depends much on language of your agreements with the bank and proper interpretation about the implications of each clause of the agreements.
Harshpal
(Querist) 05 April 2012
I have hired an expert the query was with the intention of having open discussion
Guest
(Expert) 05 April 2012
If you desire open discussion, full facts are also required to be placed before the experts. Any partial or twisted information on your part may lead only to confusions for you. I can advise you that any information should not be concealed or twisted where legal implications are involved and you desire to get proper advice from experts.
