danish (Manager) 27 May 2011
Hi,
We are the tenant, borrower is absconding. Bank is asking us to vacate the flat under sarfaesi act. We are even ready to pay the loan amount but the bank is not co operating at all. We are staying in the flat for past 3 years and we came to know about the mortgaged one year back.
The lease agreement is in my Mom's name, she is suffering from heart ailments, bloodpresure, diabetits etc.Can we can get permanent injunction.Please assist me
sumana (practice) 30 May 2011
If you ( teneant) are not the party to the mortgage deed with the bank then you cannot be evicted from the residence. I you are ready to pay the loan amount then you have to pay the principal and the interest both, but after that the bank is obliged to name you ( tennant) as the true owner of the flat / house. If the bank is not cooperating then you can approach the bank legally. As third party's right is suffering. The Reserve Bank has given certain guidelines to the Nationalised banks operating inthe country. On those guidelines third party claims cannot be surpasssed while invoking SARFAESI Act.
You can also contact in the following email:- ramkishandrt@gmail.com
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