Symbolic possession
chirag patel
(Querist) 26 February 2016
This query is : Resolved
I had availed home loan from ICICI Bank in the year 2002. In few years I had again taken topup loan of Rs. 163000.00. I am paying both the emis one for home loan and one for topup regularly....In 2013 I lost job and due to which I could not able to pay the emi on time...but the principal loan emi i am paying regularly through ecs but the remaining emi of topup i could not able to pay due to financial crunch...today i got notice pasted on my flat POSSESSION NOTICE. In ths notice it is mentioned the this is a symbolic possession since i had not paid the called off loan after expiry of 60 days..in this notice icici bank has not mentioned my loan account and other details like for wat purpose this notice is served............
wat remedy I had in the legal terms.......and wat are the consequences of this symbolic possession notice.....
thanks
ramesh francis
Santosh Goswami,Advocate
(Expert) 26 February 2016
Since it is a personal loan and not a loan against mortgage of property, there can not be notice for possession nor there can be attachment at least without the permission of the court. There is nothing like symbolic possession under law. Need to see the notice. May be this is a gimmick.
9555462995
chirag patel
(Querist) 26 February 2016
sir this is a home loan...my registered documents are with ICICI bank...I am not sure whether it is mortgaged or not ???
How a mortgaged be done ?
Rajendra K Goyal
(Expert) 27 February 2016
Bank has right for general lien.
If one loan account of a person turns NPA all his accounts are treated NPA as per RBI guidelines.
In such case Bank has right to proceed for recovery.
Sudhir Kumar, Advocate
(Expert) 27 February 2016
YOU SAID
".my registered documents are with ICICI bank...I am not sure whether it is mortgaged or not"
DO YOU REALLY MEAN WHAT YOU SAY?
DO YOU THANK (AND WANT EVERYONE ON THIS FORUM TO BELIEVE )THAT THE YOU ARE ACTUALLY NOT AWARE AS TO ON WHAT TERMS LOAN WAS TAKEN
DO YOU REALLY THINK THAT BANK PERSONS WILL BE SO IDIOT THAT THEY WILL GIVE HOUSING LOAN WITHOUT MORTGAGE/HYPOTHICATION OF THE HOUSE.
ADV-JEEVAN PATIL, MUMBAI
(Expert) 26 February 2016
