Rama (NA) 01 May 2013

Urgent advice on auction sell property

Hi all,

Actually we won a auction sell for buying a house, sine last one year through a bank...and we paid total amount..

Next month before they hand over the house, another bak say that the same persion also take loan from them..
(basically that person took loan from both bank by makeing some froged paper)...

Now second bank file a case against first case that they also want money..

Now as case is proceeding since last one year, so I talked to first bank manager from whom we won the auction sell, about our money.. He say that incase any thing will happended then also they will return with interest..

But basically we want that home, not money..

1. My query is that: As first bank when did the auction sell, at that time they put for advertisement in two paper, at that time second bank was silent.. and later they filed case..

2. Just we are waiting for a while, incease second bank won and will say that they want to do another auction, then can we file case that as we already won first time.. so we don't want to take back money rather we want our property...

N.B: So far we won in auction sell, total money paid and but home is not yet in our home..

Please suggest me the better remedy..

thank you.

Reply Follow

4 Replies

Adv k . mahesh (advocate) 01 May 2013

first bank had already given a paper notification means your have strong point and second bank will not succeed

because first bank had given as per legal notice (paper notification) in that point itself the case should have no standing

pervez (adviser) 01 May 2013

The question here is not about giving paper publication. It may have to be seen which bank is holding valid title deed. It is a clear case of fraud and the bank with whom the fraud has been committed must approach police authorities for arrest of culprit. You, as buyer, have to check with your bank if they have genuine title deeds [ means the basis of creation of mortgage]. The bank who has genuine title deeds will succeed..

Hope this will clarify your query

Rama (NA) 01 May 2013

Yes sir, first bank put the paper notification in news paper for auction sell.. After everything ok, we won and pay total money during official stipulated period.. After that during they say that for paper work it will take one month time, and by that time second bank file case and now their both bank is fighting for that money..Now we are in between..Bank authority say that they put our money, as fixed deposit,..In case they will cancel that auction sell then they will return with interest..

Basically, we want that property.. so is it better to wait for their case and in case we lasot then we can file under consumer act..

N.B: One thing is that after auction sell and after paying all amount also they did not give any receipt to us, so in such case how can we go through law??

Pease advice..

Thank you

Rama (NA) 01 May 2013

My reply to suggestion-2: What we came to know that, that person take loan from two bank by making duplicate certificate. Now both bank fighting that, the document having in both hand is genuine and difficult to find which is duplicate..

Any way as first bank put the paper notification in news paper for auction sell.. After everything ok, we won and pay total money during official stipulated period.. After that during they say that for paper work it will take one month time, and by that time second bank file case and now their both bank is fighting for that money..Now we are in between..Bank authority say that they put our money, as fixed deposit,..In case they will cancel that auction sell then they will return with interest..

Basically, we want that property.. so is it better to wait for their case and in case we lasot then we can file under consumer act..

N.B: One thing is that after auction sell and after paying all amount also they did not give any receipt to us, so in such case how can we go through law??