Bank issue e-auction letter under rule 8(5), 9(1) and 13(4).

I taken mortgagee loan from bank in 2006 of Rs 3.69 lac and regular payment till 2011 i paid regularly till 5 yrs in 2012 i got letter from bank Total Balance amount and after received monthly statement of 5 Yrs i found bank charge me up to 18.5% and bank commitment of 11.75% at the time of disbursement. i sent so many call and mail to bank also i meat personally but no result. and now they issue letter with advertisement copy of eauction under rule 8(5), 9(1) and 13(4). i dont have additional house. i'm with my family in one room of 25 sq mtr Mahada House. in mumbai. pls suggest what i can do

Answers (2)

462 votes

This question has been answered by one of our lawyers. See answer below.

57 votes

Firstly you need to figure out what was the rate of interest mentioned on the documents you signed while availing the loan.If the rate of interest mentioned is less than what they have charged you, than you need to immediately file application before DRT to stop the attachment and auction proceedings based on your documents and displaying the malicious act of bank before the authority.

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Labour & Service Lawyers

Advocate Sunil Kumar Bakshi
Sector-16, Faridabad
33 years Experience
Advocate Wg Cdr Ajit Kakkar (Retd)
Dwarka, Delhi
20 years Experience
Advocate J. P. Rinwa
Swej Farm, Sodala, Jaipur
19 years Experience
Advocate Bala Janaki
330 Thambuchetty Street, Chennai
35 years Experience

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at and has been responded by one of the Labour & Service Lawyers at to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at or contact a Lawyer of your choice to address your query in detail.

Related Questions

" has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Related Articles