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Regarding loan recovery for a flat which has not built due to dispute
26-Aug-2023 (In Recovery Law)
My brother has bought a flat in an underconstruction buliding near badlapur through loan. Since the buliding construction has stopped due toh some dispute by the builder's end so we have stopped paying the EMI for that flat. Now the bank has filed the complaint against us for not paying the loan. We have already paid 40% of the total amount. Now the police have arrested my brother on behalf of a bank notice. Now tell me what shall be done.
Defaulting of loan repayment is completely a civil matter and police cannot arrest the defaulter simply because he did not repay the loan. The police, in your case, has arrested your brother since you have intentionally stopped they payment to the bank. You have to immediately apply for bail before your local magistrate court with the condition that you will continue paying the loan.
The halt in the construction of building is not the concern of bank and therefore your reason of non payment of loan that builder has stopped construction will not be considered.
Your issue with builder is a different one for which you can go to consumer court and get appropriate order and the consumer court will order the builder to continue the construction or refund the 40% amount paid by you.
As of now it is important to apply for bail for your brother. kindly approch me for further assistance.
The halt in the construction of building is not the concern of bank and therefore your reason of non payment of loan that builder has stopped construction will not be considered.
Your issue with builder is a different one for which you can go to consumer court and get appropriate order and the consumer court will order the builder to continue the construction or refund the 40% amount paid by you.
As of now it is important to apply for bail for your brother. kindly approch me for further assistance.
Helpful?
Adv. Rahul Mishra
Mumbai | 200+ Answers
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This is my advice to you:
1 You need to apply for bail immediately;
2 You need to approach criminal courts as well as civil courts;
3 File a petition in the RERA office or the NCLT against the builder;
4 Also file FIR against builder;
5 Best advice can be given if you share more details
1 You need to apply for bail immediately;
2 You need to approach criminal courts as well as civil courts;
3 File a petition in the RERA office or the NCLT against the builder;
4 Also file FIR against builder;
5 Best advice can be given if you share more details
Helpful?
Adv. Gowaal Padavi
Mumbai | 500+ Answers
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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 lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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