Bank mistake

MY FIRST QUESTION IS - IS THAT A NATIONALIZED BANK . THE BANK NEED NOT TAKE POSSESSION OF THE PROPERTY BY DRT . THE BANK WILL TAKE POSSESSION OF THE PROPERTY UNDER                   " SARFASI ACT " AS AMENDED TILL DATE BECAUSE THE BANK HAD TO CUT A SORRY FIGURE BEFORE THE MADRS HIGH COURT WHICH IS PUBLISHED IN THE HINDU,CHENNAI EDITION DATED 20TH AUGUST 2012.UNDER SARFASI ACT THE BANK WILL TAKE POSSESSION OF THE PROPERTY . I WANT TO EXPLAIN IN DETAIL ABOUT 8 PROPERTIES IN TAMIL NADU TAKEN POSSESSION FOR A DUE OF 7 CRORES IN APRIL 20TH 2011. THERE ARE MORE THAN 13 GUARANTORS AND BORROWERS IN THAT LOAN OF RUPEES 4 CRORES SANCTIONED IN 2006 .THAT LOAN BECAME AN NON PERFORMING ASSET IN JUNE 2009 . IN 2008 ITSELF ONE OF THE PROPERTIES WAS SOLD TO A PERSON AND BOUGHT AGAIN UNDER FORCE WITHOUT ANY MONEY IN 2009 WHEN I FILED THE COUNTER STATEMENT IN JULY 2009 FOR ONE OF THE PROPERTIES. IN 2011 WHEN THE NEW GOVERNMENT CAME TO POWER 4 PERSONS ONLY ONE A BORROWER AND 3 OTHERS WERE ARRESTED UNDER LAND GRABBING ACT AND WERE JAILED . AFTER SEVERAL MONTHS ONLY THEY GOT BAIL FROM THE MADRAS HIGH COURT . THE2ND PROPERTY WHICH IS MORE THAN 2500 SQUARE FEET AND WAS BUILT IN 2000 WAS SHOWN TO THE BANK AS ONE THAT WAS BUILT IN 2006 AND THE ENTIRE 2500 SQUARE FEET WAS MORTGAGED TO THE BANK .BUT FOR THE LOCAL AUTHORITIES ONLY 750 SQUARE FEET WAS SHOWN AND THAT IT WAS BUILT IN 2000 AND IT WAS UNDER OWNER OCCUPATION .IN THE COURT IT WAS SHOWN AS RENTED TO A PERSON WHO IS CLOSE TO ME AND AS THAT OF BUILT IN THE YEAR 2000. IN THE MEANTIME I GOT ANOTHER PROOF THAT THE SAME HOUSE WAS GIVEN AS THE ADDRESS FOR REGISTERING THE TRADE MARK OF ONE OF THEIR ANOTHER INDUSTRY AND THAT COMES UNDER THE MINISTRY OF INDUSTRY GOVERNMENT OF INDIA .ONLY IN FEBRUARY 2012 THE SALE NOTICE WAS PASTED IN ALL THE HOUSES IN TAMIL NADU WITHIN 2 DAYS .THE LAST DATE OF TENDER WAS 14 MARCH 2012 . TILL DATE NO DEVELOPMENT IN THE MATTER AND THE BANK ASKS ME TO SEND THE PROOF TO THEIR REGIONAL OFICE IN TAMIL NADU . I HAVE REFUSED TO SEND ANY OF THE DOCUMENTS AND ASKED THEM WHY YOU HAVE NOT CANCELLED THE POWER OF ATTORNEY GIVEN TO ONE OF THEIR CLOSE RELATIVES IN MADRAS TILL DATE INSPITE OF MY INFORMING YOUR CHIEF MANAGER IN 2009 ITSELF THAT A POWER OF ATTORNEY HAD BEEN GIVEN TO THE MADRAS PROPERTY AND IT WAS REGISTERED IN THE SAME AREA WHERE THE BANK IS LOCATED . I HAVE GIVEN THE POWER OF ATTORNEY NUMBER ,  DATE OF REGISTRATION ,  GIVEN BY 2 OF THE BORROWERS AND GUARANTORS AND THE NAME OF THE REGISTRAR'S OFFICE . IN 2009 I ONLY GAVE THE CORRECT MADRAS ADDRESS AND THE 2 OWNERS COIMBATORE ADDRESS AND THEIR RESIDENCE TELEPHONE NUMBER . LOT MORE AND I WILL STOP WITH THIS TODAY AND ANSWER YOUR QUESTION DIRECTLY .

                                         I HAVE ALREADY EXPLAINED THAT THE BANK NEED NOT TAKE POSSESSION OF THE PROPERTY THROUGH DRT . ONCE THE BANK TAKES POSSESSION OF THE PROPERTY DIRECTLY THEN THE BORROWER HAD TO APPROACH THE DRT WHICH IS A CENTRAL GOVERNMENT COURT FOR A STAY BY REMITTING ATLEAST 10 LACS TO GET A STAY .THIS 10 LACS WAS FOR A 45 LACS TENDER . THE DRT WILL NOT GIVE LONG ADJOURNMENT BUT VERY SHORT ADJOURTMENT . NEXT ADJOURTMENT THAT PARTY HAS TO REMIT ANOTHER HUGE AMOUNT . OTHERWISE THE DRT WILL GIVE JUST 3 DAYS TO REMIT THE MONEY . IF THEY DON'T REMIT THE AMOUNT THE DRT WILL DISMISS THE PETITION . IN THE MEANTIME ONLY THAT OWNER GIVES POWER OF ATTORNEY TO SOMEBODY , PAYS THE DUES TO THE BANK AND RELEASES THE DOCUMENT . TILL THE PROPERTY DOCUMENT IS RELEASED AND THE BANK MORTGAGE IS CANCELLED BY A CANCELLATION DEED AND REGISTERS THE SAME IN THE REGISTRAR'S OFFICE IF ANYBODY BUYS IT THEN IT IS AT THEIR OWN RISK .NOW A DAYS EVEN POWER OF ATTORNEY HAD TO BE REGISTERED IN THE SAME REGISTRAR'S OFFICE . SO IF A CANCELLATION DEED IS REGISTERED AFTER THE POWER OF ATTORNEY , THEN THAT POWER OF ATTORNEY IS NOT VALID AND ONE MUST AGAIN REGISTER ANOTHER POWER OF ATTORNEY IN THAT SAME REGISTRAR'S OFFICE ONLY . NOW A DAYS IF MONETARY CONSIDERATION IS MENTIONED IN THE POWER OF ATTORNEY THEN THAT PERSON HAD TO BUY THE SAME VALUE OF STAMP PAPER AS THAT APPLICABLE TO THAT OF A SALE DEED .

                                       SINCE THE PROPERTY HAD GONE TO DRT AS MENTIONED BY YOU , THEN THE BANK WOULD HAVE ISSUED ADVERTISEMENT IN ONE LEADING ENGLISH DAILY AND ONE LEADING DAILY IN THE REGIONAL LANGUAGE .YOU MUST FIND OUT WHAT IS THE LAST DATE OF TENDER . AFTER THE LAST DATE OF TENDER IS OVER , THEN THE BANK HAD TO ISSUE ANOTHER TENDER FOR THE SAME PROPERTY AND SELL IT ONLY BY TENDER . THIS IS THE NATIONALIZED BANK CASE WHICH I HAVE REFERRED ABOVE . IN THAT THE BANK HAD SOLD THE PROPERTY AFTER 70 DAYS OF THE LAST DATE OF TENDER AND THE HIGH COURT HAD CANCELLED THAT SALE AND HAD ORDERED THAT THE BANK SHOULD ISSUE A FRESH TENDER . NOT ONLY THAT THE HIGH COURT HAD PASSED STRICTURES AGAINST THE CHIARMAN AND MANAGING DIRECTOR OF THE BANK AND HAD ORDERED THAT AN ENQUIRY MUST BE CONDUCTED BY THE BANK AGAINST THE                " AUTHORISED OFFICER FOR THAT PROPERTY " AND THAT THE ENQUIRY OFFICER MUST NOT BE BELOW THE RANK OF THE GENERAL MANAGER OF THAT BANK . I HOPE I HAVE EXPLAINED YOUR QUERRY ALSO. - JOSEPH WILFRED - 12/02/2013 AT 03.12 HRS.  

1. The original Title Deed has already been deposited with the Bank for creating security interest on the property by the Borrower,

2. In absence of the said original Title Deed how the buyer has purchased the said property?

3. The said sale is invalid & the no fault can be assigned on the Bank in any way in this regard.

Hi Mr Ganguly

1. The bank has 1 document which is conveyance deed.

2. Third party has taken registered GPA, as in delhi , previously many properties were sold without conveyance deed. Third party has all other documents like demand letter, etc, but they do not have conveyance deed. As they were not informed that this property is free hold.

Thanks

Thanks Mr. Joseph

1) No, the property was not a free hold property & was mortgaged with the Bank,

2) The said sale is invalid.

So what can third party do?

1) The third party has been cheated by the mortgagor. After mortgaging the property the owner passes on the charge & interest on the property to the mortgagee. He can not sell the said property,

2) The third party also made mistake in not claiming the original deed which is a must,

3) The third party now has the option to file a criminal complaint before the police against the seller & the POA holder u/s420 r/w 120(B),

4) He can also file a recovery suit against the seller.

Can they settle it with the bank? what action they can take against bank to stop the auction?

Because saving house is more important as third party don't have anything else to stay.

Also, bank had not sealed the property for 2-3 years, even though court had given them the authority. And after 2years mortgager sold it to someone else. Mortgager and bank officials were certainly involved in this.

Dear Mr. Querrist 

                               I HAVE NARRATED ABOUT THE STATE OF ONE PROPERTY ONLY . THE SECOND PROPERTY WHICH I HAVE MENTIONED AND WHICH WAS MORTGAGED TO THE BANK IN 2006 FOR WHICH A POWER OF ATTORNEY WAS GIVEN TO ONE OF THEIR CLOSE RELATIVES IN 2008 AND BASED ON THAT POWER OF ATTORNEY THAT PERSON HAD FILED AN EVICTION PETITION IN THE MUNISIF COURT IN 2008 AND IN THE COUNTER STATEMENT I HAVE VERY CLEARLY STATED THAT THE PETITION IS NOT MAINTAINABLE BECAUSE THE POWER OF ATTORNEY WAS GIVEN BY THE BORROWERS WHEN THE DOCUMENTS WERE IN THE BANK . I INFORMED THE BANK THAT THE POWER OF ATTORNEY WAS REGISTERED ONLY IN THE REGISTRAR,S OFFICE WHERE THE BANK IS LOCATED . THEY GOT A COPY OF THE POWER OF ATTORNEY . THE COUNTER STATEMENT WAS FILED IN JULY 2009 . TILL JANUARY 2011 THERE WAS NO DEVELOPMENT IN THAT CASE BECAUSE THE JUDGE WAS A HONEST PERSON . WHEN SHE WAS TRANSFERRED ANOTHER PERSON WAS POSTED AND THEN THEY CONDUCTED THE CASE . BEFORE CROSS EXAMINATION , I WAS MADE EXPARTE . I MADE THE BANK TO TAKE POSSESSION OF ALL THE 8 PROPERTIES IN APRIL 2011 BEFORE THE JUDGEMENT WAS RESERVED .I FILED A PETITION THAT THE JUDGE HAD NO AUTHORITY TO DEAL WITH THE PETITION SINCE THE PROPERTY HAD BEEN TAKEN OVER BY THE BANK .THE JUDGE RETURNED THAT PETITION AND THE JUDGEMENT WAS RESERVED FOR 14/06/2011 . ON THAT DATE I FILED A PETITION WITH AN URGENT PETITION TO SET ASIDE THE EXPARTE ORDER . DURING CALLING ITSELF THE JUDGE TOLD ME THAT ORDERS HAD BEEN PASSED AND RETURNED THE PETITION .I REFUSED TO TAKE IT AND TOLD HIM TO WRITE THE REASONS FOR RETURNING IT . HE DID THAT ALSO . THE EVICTION PETITION WAS ALLOWED . THEY FILED THE EXECUTION PETITION AND WE DRAGGED IT FOR COUNTER . WE FILED THE COUNTER STATEMENT ON THE GROUND THAT THE EXECUTION PETITION IS NOT AN ENFORCABLE ONE BECAUSE THE BANK HAD TAKEN POSSESSION OF THE PROPERTY .BEFORE THE ARGUMENT THE BANK CALLED FOR TENDER FOR SALE OF THE PROPERTIES. WE FILED ANOTHER PETITION UNDER CPC 47 THAT IT IS NOT A MAINTAINABLE DECREE. EVEN THAT THE JUDGE RETURNED IT AFTER ONE MONTH AND PASSED THE ORDER AND ON THAT DATE ITSELF HE WAS TRANSFERRED AND RELIEVED TO ANOTHER COURT . WE AGAIN REPRESENTED THE PETITION WITH CONDONATION OF DELAY AND ANOTHER PETITION FOR THE ORDER COPY .THE CPC47 PETITION WAS ALLOWED BY THE NEW JUDGE ON 11/08/2012 AND POSTED FOR COUNTER . TILL DATE THEY ARE DRAGGING IT BECAUSE THEY CANNOT FILE THE COUNTER SINCE THE LOAN CANNOT BE CLOSED .I SPOKE TO THE REGIONAL MANAGER , WHY HE HAD NOT CANCELLED THE POWER OF ATTORNEY EVENTHOUGH THE SAME WAS CONVEYED TO THE BANK IN 2009 ITSELF .

                     ARE YOU THE PURCHASER OF THE PROPERTY WHICH YOU HAVE MENTIONED . IN THAT CASE YOU DON'T WORRY . IN EVERY SALE DEED THERE WILL BE A CLAUSE THAT THE SELLER INDEMNIFIES THE PURCHASER THAT WHATEVER THINGS HAD TO BE DONE TO MAKE THE SALE COMPLETE WILL BE DONE BY THE SELLER HIMSELF AT HIS COST .IF HE IS NOT IN A POSITION TO RECTIFY IT THEN HE HAD TO REPAY NOT ONLY THE AMOUNT HE HAD TAKEN BUT ALSO THE COST YOU CLAIM FOR THE MENTAL AGONY AND ANY OTHER SUFFERRINGS WHICH YOU HAVE UNDERGNE .IN YOUR CASE SINCE THE ORIGINAL IS WITH THE BANK AND SOMEBODY IS SELLING IT THROUGH POWER OF ATTORNEY YOU CAN VERY WELL FILE A WRIT PETITION ( CRIMINAL ) IN THE HIGH COURT STATING ALL THE FACTS AND THE FIRST RESPONDENT SHOULD BE THE BANK , THE SECOND RESPONDENT THE POWER OF ATTORNEY AND THE THIRD RESPONDENT THE PURCHASER . YOU FILE A PETITION FOR STAY ALSO . YOU WILL BE GRANTED STAY .IT IS THE DUTY OF THE BANK TO SET RIGHT EVERYTHING . OTHERWISE THEY WILL LAND BEHIND BARS . 

                  I HOPE THAT WHAT I HAVE ASSUMED YOU IS CORRECT . IF NOT YOU EXPLAIN THE DETAILLS SO THAT WE CAN CHANGE THE PETITION ACCORDINGLY -JOSEPH WILFRED - 18/02/2013 AT 22.18 HRS