My husband took a loan of Rs 2 crore from PNB bank for developing a milk plant. For the loan he mortgaged all our property including our family house ( worth 60 Lakh Rupees), 100 bigha land ( worth 60 lakh Rupees) and the factory itself which was valued at Rupees 1.5 crore. My mother-in-law also gave guarantee of the farm land worth 2 crore and our also another building that we owned. So basically everything that we had, my husband mortagged it for this factory.
He died from heart attack in December 2010, and I being a housewife never knew that he had done all this and he never told me anything about it as well. After he died, the bank started calling us ; they came just after a week of him passing away and made us ( legal heir's - me, my daughter, my son and mother in law) sign some bank documents saying that it is just a formality that we needed to do. At the time we were grief striken and didn;t think much before signing or talked to any lawyer.
As the months passed the Bank NPA the accounts and auctioned for our house and the factory. Both properties sold for 1.9 crore. Me and my kids were left without a home and now renting a house. After the NPA and all these months they say that they have charged more interest on the loan and that the total value we own them is Rs. 90 Lakh. If I want to do a settlement, they said that they cannot do a settlement or waive off the interest. Can a bank do that? Now they want our farm land plus the other land as well ; we are left with nothing. I don't know where to go. I am a widow with 2 kids I need to take care of. My mother-in-law is also not in a good condition. She says that if the bank doesn;'t stop harrasing us she would commit suicide because of the tension.
We are ready to give the bank the principle amount of the loan but they don;t want to waive off the interest. Can a bank do that? They keep calling us regularly saying how they will take all our property for the loan. They've already taken our house, I really need help. Is theer any law I can take legal action against them? Or consult Human Rights for all this harassment?
