Restriction of emt to bank by an employee belong to st category in odisha
Ashok Kumar Adhikary
(Querist) 27 November 2012
This query is : Resolved
MY COLLEAGUE MR SABAR WANTS TO MORTGAGE HIS PROPERTY/LAND AT NAYAGARH AND KEONJHAR NAC AREA TO A NATIONALISED BANK FOR GETTING HOUSING LOAN.
HE IS WORKING IN A BANK, BUT THE LEGAL DEPTT
OF THE BANK IS SAYING THAT BRANCH MANAGER AND
SANCTIONING AUTHORITY MUST ENSURE IF ANY STATUTORY LEGAL IMPEDIMENTS IS THERE BEFORE SANCTIONING THE LOAN.
AND HE HAS NOT SANCTIONED THE LOAN. CAN YOU PLEASE HELP US WHETHER ANY SUCH LAW IS FRAMED BY GOVT OF ODISHA TO PREVENT ST EMPLOYEES TO OFFER HIS LAND TO ANY BANK FOR
GETTING A HOME LOAN ? IF YES, KINDLY EXPLAIN IN DETAIL BY QUOTING THE SECTIONS OF LAW ETC.
I HAVE GONE THROUGH THE TRANSFER OF PROPERTY ACT BY A ST CATEGORY PEOPLE, WHERE NO SUCH RESTRICTION IS THERE IN CASE OF EMT TO BANK.
SO, I REQUEST YOU TO SUGGEST A WAY HOW CAN
MY FRIEND BE ABLE TO MORTGAGE HIS LAND FOR GETTING A HOME LOAN.
Raj Kumar Makkad
(Expert) 27 November 2012
There is no specific law preventing ST persons to mortgage their land for availing bank loan rather this is satisfaction of the bank which shall prevail.
