Legal Question in Banking Law in India

A developer got approval from vuda for his 10 acres land to sell them as residential plots. After getting approval from vuda, he sold all plots to different persons. After 2 years, he sold part of the 10 acres to some individuals. He also registered some of the sold plots in his name and his wife name against which he availed bank loan and repaid recently. Till the registrations are alive. He also availed private loans against such registered documents. He cheated plot owners, voilated vuda norms, banks by pledging fictitous assets. Under which act he is punishable under indian laws, andhra pradesh. I wish to he wlll have to be punished for at least 4-7 years. as I am one of the botherers in financial transactions. Please guide me to whom I have to report and on what basis I have to report. I have solid proof of double registrations, selling of vuda approved lands, availment of loans from banks /private financiers on fake assets. Please tell me how to approach and to whom I have to report? Can I file a private petition with any court? Please inform me


Asked on 1/14/15, 4:49 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

15,01,2015

Dear Sir / Madam,

First and foremost, I need to know what do you mean by the abbreviation vuda and what is its full form and what Act or law does it stand for. In the interim, you can lodge an RTI application in the Consumer Court to establish all the facts clearly.

Regards,

Read more
Answered on 1/14/15, 7:59 am


Related Questions & Answers

More Banking Law questions and answers in India