Sarfesai act - breach of trust by poa holder

I think time has come when u can not trust even ur own spouse,childlren leave alone siblings. Always device a method so there is a cross chk on happenings. Also instead of taking honourary service of a brother u all shud have appointed a paid person who will give report every month. In india our mentality is let some one from family, from neighbourhood, from society, or from politics work free for others. 

U all have not paid anything to ur brother working for u all. Now this lead to dishonesty. Call a sr. member of a community and settle the issue amicably in a panchayat format or u all will be dragged in though the culprits will be finally booked.

Also find whether ur brother was genuinely in need of some funds or he spent same on bad habits. If he was in dire need and took a wrong recourse then help him come out by jointly giving him time thru post dated chk to repoay all brothers slowely and u all shud settle the bank.  

once you have taken loan from bank as joint borrower your are liable for the discharge of loan jointly and severally. if we can peruse your loan documents signed by you with the bank we may find some escape route for your liability. for ex: if you mentioned tha you are only libile for 1/5 th of share than it can be argued that way.

Further we wish to know whether  in joint prperty whether your portion is asertained or marked or seperately numbered with seperate area demarcation.if so we can find a way .

vamalegal@hotmail.com

If you can fight there are ways out in such legal problems.

According to SARFAESI act every bank has the right to proceed agaisnt the wrongdoer therefore if you are a member of one unit then all the terms and conditions of loan agreement will have an ultimate effect on you, there is only one way to opt for a legal remedy is the laibility clause under the said agreement as to what it suggest therefore kindly read out and consult a lawyer of your region and thereafter give your reply not only to bank but also to other co-partners.  GOOD DAY. 

Your POA holder is nothing but your representative and any fraudlent act of your POA holder will not cease your responsibility to pay the amount.

Only the options avilable before you is to file criminal case against your POA holder

As far as SARFAESI proceedings initiated by the bank is concerned, they can take possession of the property and sell it for recovery of the loan dues.  Your inter se arrangements may not help you; you have to settle the matter of mistrust, among you the co-owners. 

If bank has issued Demand Notice u/S13(2) of the Act, you have to raise your objections to the bank within 60 days.  If Possession Notice u/S 13(4) is issued, you may approach jurisdiction DRT by filing appeal under Sec.17 of the Act to stop sale of the property.  Find means to settle the account at the earliest or atleast to regularise the dues. Otherwise bank will proceed for sales.