Procedure to get back the property put on auction by bank

Sir my dad property is auction by bank. If there any chance to get back to that house.Other person is pay the outstanding dues the bank manager is sell to his religion person. And bank signed the Clarence in document. if there is any chance to get back the house. Suppose i will give the outstanding dues to the who one pay the amount to bank.the house value is 40 lakhs. But the bank dues is just 4 lakhs. After he get loan in bank and give the value of the amount. there is no process for registration. just bank give the Clarence for dues only. he give amount after registration.

Answers (3)

261 votes

you need to approach the debt recovery tribunal for stay within stipulated period of sale as if there is any procedure lapse shown by bank in securetisation reconstruction and financial recovery act under section 13

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302 votes

This is M.A RAHEEM KHAN Advocate, From : Hyderabad, @

You have to file injunction suit against the Bank and his Manager to restrain them to give clearance to that person, and pray to the court that you will settle the matter by giving outstanding dues to the Bank.

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Definitely you get the property. You have prove the case and the bank can't action the property. Above 10 lakhs only the bank has to power to auction the property through court . Your matter is only 4 lakhs only.

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