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Property loan fraud by builder taken loan not paying EMI what to do
04-Aug-2023 (In Property Law)
This is a case where builder has manipulated us and took a loan from 2 banks on my profile. Actually builder has used my profile and got the loan on 2 properties (under construction) and provided us commission for that, around 6 months builders have paid the EMI which was from my account but now they have stop depositing the EMI amount in my account. I am so much worried what to do now....if i surrender the property to bank what will happen because properties are under construction not sure if bank will be able to sell them...I have call recordings with builder agents. What should I do?
In this case you can file a complaint against that person under the offence of cheating defined under section 415 of the Indian Penal Code. If the police is not registering FIR you can also file the Complaint under section 200 of CrPC.You can also file a complaint under the provisions of the consumer protection act.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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In the present facts and circumstances, a careful perusal of all the necessary and relevant documents concerning the matter/dispute at hand is vital before arriving at any conclusions. Further and better particulars are needed for an effective opinion.
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Adv. Tushar Kumar
Delhi | 200+ Answers
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