Fraudulent Sale of Property Mortgaged to Bank
Property of substantial value mortgaged to Bank is decreed by the Court in 2003 in favour of the Bank due to the borrowers default. The default amount is relatively very small as compared to the property value The Bank does not sell the property for 10 years. Meanwhile, mafias eye the property and taking advantage of the fact that the borrower lives in some other city, these unscrupulous/Mafia type elements fraudulently sell the property by fabricating dubious documents and the possession is also taken over on the basis of these documents, the old construction destroyed and new construction made by these elements, without the Bank coming to know of the sale
Queries
1. What action lies against such elements?
2. Can FIR be filed for Cheating, Destruction of Property, Breaking the door open, Theft, & Trespassing?
3. Who is supposed to File the criminal Complaint The Bank or the Borrower whose property is at stake?
4. What should the borrower do? Should he ask the Bank to file complaints with the Police
Please help with details of the relevant laws applicable under which this issue can be resolved with speed
