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Cheated by illegal bank auction property


08-Apr-2023 (In Criminal Law)
I have recently purchased a under construction sarfaesi physical site by UBI Bidar branch , and was able to register the property in SRO. Later when I went for permission from development authority I got to know that it's 100 ft road on the map and no plots allotted on the site. Now I have no property, when I checked with bank they say they can't do anything. I have taken loan to buy this property and now I don't have anything except papers. Development authority says there are no records of layout given in our documents. Kindly suggest, as I understand bank manager knew this before and still they conducted the auction.
Answers (2)

Answer #1
999 votes
Dear Sir,
Immediately you have to lodge complaint with concerned authorities and also approach consumer forum. It is very dangerous situation and you must also think of approaching Civil Court for getting appropriate remedy.
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Answer #2
860 votes
Hi. You can file case against the Bank and Bank Manager holding liable for this and also get a stay order on paying Loan amount it the Bank. You can take a lawyer support and get this done immediately. At the first, issue a legal notice and then file suit
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