Dear Sir,
I had taken a loan against my flat (loan amt is far less than the property value which is much higher )from a Mumbai private bank few years back and i was paying the emis on time.I suffered a huge business loss and now i am not able to pay the emis unfortunately.The Arbitration process started which went on for a year and eventually the order was passed against me.I challenged the order in the Bombay High Court by filing an appeal but here also i lost .The Judge told me that i can go for a second appeal and so i appealled for the second time in the High Court but again i lost.
Sir,i would highly appreciate if the respected lawyers can guide me what to do under this situation in order to protect my flat .Its not that i dont want to pay back but i am a genuine defaulter .I dont want to lose the flat and i also want to pay the bank.But as of now i dont want the bank to attach my flat or else i would be down on the roads with my wife and two small daughters.So please please guide me what to do in order to protect my flat for the time being.Can i go for a third appeal or can i file a new petition ?.Whatever it is please reply back at the earliest.
Your early reply would be highly and truly appreciated.
Thanking you,
Indrajeet Shah
