monjula sooresh (Chief Executive) 01 July 2016
Kumar Doab (FIN) 01 July 2016
Engage ASAP a very able counsel specializing in such/property/revenue/civil matters and show all docs on record and Caveta Notice that you have recieved, and let your counsel render a considered opinion theraafter.
The devloper would be having its own battery of lawyers.
monjula sooresh (Chief Executive) 01 July 2016
Tku for the advise. Have done so. But not convinced with his strategy so am seeking knowledge / wisdom to decide. Would be grateful for pros and cons of waiting it out or negotiating with developer or getting together with other similarly affected buyers and take joint action.
Kumar Doab (FIN) 01 July 2016
All affected parties may join hands and jointly act to defend thier interest.
Negotiations with builder on what conditions?
Are you not legitimate owners?
Is our title defective?
Has builder purchased yor plots (from seller) after you?
Search for a very able counsel and go for second opinion and due examination of all docs on record.
Gopi Krishna 04 July 2016
HI,
My property is been sezied by non banking financial Institue a week back against 13(2) sarfaesi after then have issued a notice in the month of March in news papers.
I have taken a loan 37.5 lakhs against my property worth of 70 lakhs.
Right before disbursal of my complete loan amount there are continously creating problems
I am not paid my emi on time for which my account has come to NPA for the first time in last year. However I would have requested to change my EMI date to 1st of every month then did not change as I need to regularize my loan account.
I am paying my EMI on month end of every month on month and now my account is not in NPA as it over due by 2.91
Can non banking finacial Institue can seize my property when my loan account is over due by 2.91 [ emi over dues ]+ lelgal charges + other charges
can they seize my property without Intimation after they have given a paper notice in the month of march desptie of accepting 4 emi after the notice.
Can they seize the property when no one is present at house by breaking our locks and with out any notice posted on wall by just writing with red paint mentioning this property is been seized by financial institue name and under the honble some sec name cmm court lb nagar and mentioned there contact number.
Please guide how to proceed further we want to retain the property.