Legal Question in Banking Law in India

dear sir ,i and my cousin brother constructed a house jointly.earlier deed of whole plot was in name of my cousin,he took loan against whole property without my knowledge and when i came to know that then he executed gift deed on my name for my portion.now he is unable to pay his loan and bank is going to auction whole property.however,market value of his portion is sufficient for repayment.what can i do to stop the bank for auctioning of whole property.


Asked on 8/27/10, 7:50 am

3 Answers from Attorneys
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

you may approach the civil court for grant of stay against the bank.

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Answered on 8/27/10, 11:14 am
Vishwa Arya Arya & Co.

if the transfer by gift deed was after he had borrowed money against the whole property, the gift deed may not even be valid. the property was under mortgage on the date of gift deed. does the gift deed atorn the mortgage. Was the bank aware of the gift deed?

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Answered on 8/29/10, 2:13 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Only if the property is divisible, you may approach the Bank for selling one portion first; and if the loan is not realized, then the second portion may be sold.

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Answered on 9/03/10, 4:57 am


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