643+ Lawyers are online 
Seller fraudulently took loan on our property not absconding
19-Nov-2023 (In Recovery Law)
We have sold our 3000 sqf with house property in 2009 for 25 lakhs.. at that time we dont have any knowledge about that and we are only ladies in our house my mother and 3 sisters nobody was not there for to support us.. 1)the person who has taken our property he prepared agreement for 25 lakhs.. 2)in sale deed he has mentioned 78 lakhs without our knowledge and all 4 ladies are signed in sale deed without reading registration paper.. 3)the person has taken 46 lakhs bank loan for purchasing our property.. 4)then he created bank account in the name of my mother.. In that account 46 lakhs dd from bank loan he deposited in that account then he transferred online 35 lakhs to another account same day taken sign from my mother without her knowledge because she's uneducated.. 5) after registration within 15 days he s missing till now.. without paying single loan amount to bank.. 6) now the bank auction the property as per sarfaesi act 2002.. without that person for 80 lakhs..
Now that there is a loan on the property and the borrower has defaulted in repayment of that loan the bank has legally enforced SARFAESI Act for recovery of loan amount. As the documents are legal having signed by all of you, nothing could be done to prevent the sale of property. Your contention that you are all ladies, there was no support for us, mother is uneducated etc., does not work.
Helpful?
20+
20+
Raghavendra Rao B.K.
Bangalore | 200+ Answers
CONTACT NOW
Dear madam
Please note that "ignorance is not an excuse under law" This is just like people taking self medicine without consulting a doctor resulting in fatal. It is a fraud committed by the buyer. Bank is right in effecting the sale but a detailed investigation is required to be carried out to find out whether the bank has carried out proper due diligence in extending the loan to the fraudster and also fraud has not committed in connivance of bank staff . Please lodge a complaint against the fraudster and Bank. Seek the help of a advocate so as to claim back your property.
Please note that "ignorance is not an excuse under law" This is just like people taking self medicine without consulting a doctor resulting in fatal. It is a fraud committed by the buyer. Bank is right in effecting the sale but a detailed investigation is required to be carried out to find out whether the bank has carried out proper due diligence in extending the loan to the fraudster and also fraud has not committed in connivance of bank staff . Please lodge a complaint against the fraudster and Bank. Seek the help of a advocate so as to claim back your property.
Helpful?
22+
22+
Hi,
This is cheating/forgery by the person(purchaser). You need send an legal intimation to the bank on this issue. By Parallel, You need file a temporary injunction suite against bank's decision asap. Later ,We need file a FIR against a person.
Thanks,
Adv.Niranjan.
This is cheating/forgery by the person(purchaser). You need send an legal intimation to the bank on this issue. By Parallel, You need file a temporary injunction suite against bank's decision asap. Later ,We need file a FIR against a person.
Thanks,
Adv.Niranjan.
Helpful?
25+
25+
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.
Connect with top Recovery lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
