A person has taken a loan of 75 lakhs from Govt Bank , 25L on his flat, 25L on stocks which were lying on his rented shop and again 25 lacs on stocks which were lying on his other rented shop. The person has bribed the officials to get it sanctioned. (ie; 5% of the loan amount).
Now the person is absconding and the bank officials has merged all the 3 loan a/c together for recovery.
But before absconding the fraud person has take a huge amount from tenant without informing the tenant about the loan, The tenant is staying in that flat for more then 3 years. Now the bank officials are harresing the tenant to vacate the flat or else to pay the entire loan amount with interest. The tenant is ready to pay the loan which is on flat that is 25 lacs but the bank officials are demanding more money.
What can be done please give ur valuable suggestion.
