Rupesh Chandra Poddar 29 December 2016

Builder did dual selling of flat, bank put 138 case on borrower

I took a loan from ICICI bank for a builder flat, but sold my flat to another person who took loan from a different bank. On knowing this, I followed builder, he gave me closer cheque and took my sign on booking cancellation bond. Though the foreclosure cheque got bounced and Bank is now behind me for the outstanding loan dues. They logged a 138 case on me. Please suggest how to proceed and relieved from bank loan. Why bank is not going behind Builder?

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8 Replies

adv.bharat @ PUNE (Lawyer) 29 December 2016

You can make request to the second oenwer to transfer his loan your bank account to avoid the clases.

Rupesh Chandra Poddar 29 December 2016

The builder gave possession to the second party and still my loan is open. Bank is not doing anything on builder.

The second owner is also saying he took loan from bank and he has possession on the flat, so he is also denying vacating the flat.

Please suggest how I skip from loan liability.

HIRAL THAKKAR (ADVOCATE ) 29 December 2016

details are incomplete. cheque is issued to whom?? 138 case is filed on what basis against you when you have not issued cheque.??

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 29 December 2016

Under Section 138 of the Negotiable Instruments Act, 1881 as amended up to date, the notice has to be sent by the payee to the drawer (builder) in writing within thirty days from the date of receiving Cheque Return Memo from the bank and demand the cheque amount to be paid to him within fifteen days from the date of receipt of such a notice by the drawer.

Rupesh Chandra Poddar 29 December 2016

Bank submitted my security cheque, given to them at the time of loan application. Just with intention to log a 138 case on me. They filled a large sum of 14 lacs and make it bounce. Last year builder gave me booking cancellation chq that gets bounced but bank did no action on builder. Now builder is absconding and bank is now behing me. Please suggest how to come out of this loan liability, or if there is any way that bank writeoff this loan.

Rupesh Chandra Poddar 29 December 2016

Zoheb Khatri (Practicing in Mumbai ZohebKhatri@gmail.com) 30 December 2016

You need to defend the case on mertis

Rupesh Chandra Poddar 30 December 2016

Bank is also taking action on sarfasi case, bank debt manager said by this law they can bind my other assets if they don't able to sell my secured flat on which loan was taken. As that flat is sold to second party by the builder. Is it true that my other property, salary can be attached by this law?