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Home loan under subvention, builder in NCLT
24-Sep-2023 (In Banking / Finance Law)
I have taken a home loan for under construction property from ICICI bank under subvention scheme, where builder had to pay the interest. Now, the project is stalled and project company is in NCLT. I filed a case in RERA and a verdict has been issued by RERA to builder to refund my money - first to bank and then balance to me. Currently, I am paying the pre-EMI. My queries are:
- If I stop paying pre-EMI, I understand bank will deposit my blank security cheques given by me at the time of loan sanction and initiate Sec 138 against me. Will this case of Sec. 138 hold against me, in light of RERA order?
- Is there any other legal precedent, where court has given relief to home buyers in similar case with respect to bank EMIs?
If there is someone who has expertise in this with relevant case-laws, I would like to engage him professionally. Loan amount is Rs. 1.7 cr.
A careful perusal of all the necessary and relevant case related documents including pleadings, judgment/orders is vital to arrive at an opinion. Also it is important to provide a brief narration of the facts of the matter. Further and better particulars are needed for an effective opinion.
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Adv. Tushar Kumar
Delhi | 200+ Answers
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