Legal Question in Banking Law in India

The fact of the case is Iam a housing loan customer of ICICI bank in Bangalore. The head of Regional manager in Bangalore had issued an instruction to the builder with a copy marked to me, not to give the possession of the flat which has been completed on the pretext of non availability of the sale deed. The said sale deed along with the builders agreement was deposited to the bank on 6.7.04 only after the receipt of the papers the bank had released the full amount to the builder on 27.7.04, thoug the builders agreement did not warrant it. I had written several letters from 16.3.05 till 12.12.05 and also several complaints on phone banking and on the internet banking till level 4 complaint ,when they asked me orally during the month of march 05. The bank did not answer to any of my letter or query When I submitted the papers the bank informed me that they follow oral morgage policy and hence no acknowledgement was given. On the one hand the bank in talking to me stating that they want to solve it amicably which I also agreed but they had not taken any steps iam paying my EMI's meticulously.With no other option I had moved the state consumer forum at bangalore against the bank and the builder for withhoding the possession of the flat since 2006 of its completion, praying for the handing over the possession and the damages along with the loss of the rental and it still pending for the disposal as the bank and the builder are using all the laws in the book to drag the case.I had stopped paying my emi's since September 2010 and when they approached me i informed orally as well as in writing that i will close the loan provided you hand it over the possession of the flat and the sale deed papers but they informed me orally that since builder wants that flat hence it cannot be handed over to you and only we can write to builder to hand it over. The bank also issued a sarfaesi notice which was suitably replied and they also moved the DRT in Bangalore under OA07/2012 which I am contesting and yet they are taking time to file the proof of affidavit. Now the bank had approached me for a out of court settlement which was as follows: 1.The present rate of the property will be paid by the builder to me out of which i have to settle the bank account. 2.I have to close the consumer case against them.I agreed to the solution as i want to prove that the present MNC are joining a\hand with tbe builder to cheat the public. Now my query is:

1.After the out of court settlement can i move the high court in the form of writ to regulate the MNC as they had violated the land law and as the amount mention in the DRT and sarfaesi differs and the amount what they are claiming is also more , can i claim the difference amount back by openinig the drt case which was filed by the bank or is there any way out by disapproving the certain clauses after signing the agreement?


Asked on 1/31/13, 1:32 am

5 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

31.01.2013

Dear Sir / Madam,

(Vidhana Soudha, Bengaluru, Karnataka)

To bring to light weaknesses and high handedness in the operating system, you will have to expose the parties involved in your case. No aftermath, that you agree for an out of court settlement first; and then file a writ petition. At the outset, going by the facts stated, you already have a strong case against both, the Bank and the Developer.

Please escalate the issue at the State Consumer Forum first, and persuade the concerned Officer to expedite the announcement of their decision / judgement in the matter, and plead that the concerned bank officials should be asked to explain with documentary evidence, the reason(s) for withholding the possession of your flat.

When the sale deed has already been made by the builder and he has already received full payment, the builder has no right whatsoever to stake a claim to repurchase the same flat from you without your explicit consent. This is clearly a ploy of the Developer in collusion with the Bank.

In a nutshell, fight this case to its logical conclusion by preferring an appeal against the DRT judgement, if it in any way hampers your interest.

Please mail me a copy of the DRT judgement, your query and my preliminary answer at [email protected] for further on-line advice in the matter.

Regards,

FCA Prashant Chavan

Mumbai

Read more
Answered on 1/31/13, 2:23 am
J. Radhakrishnan independent Practice

Better consult your lawyer handling the case before the DRT and consumer forum

Read more
Answered on 1/31/13, 4:26 am
Sanjay Kalra Sanjay Kalra & Associates

Engage a lawyer to guide you properly........Please check Sanjay Kalra and Associates on the internet to know more about your query and the legal services we are rendering for our clients from all over the World.

Read more
Answered on 2/06/13, 1:37 am


Related Questions & Answers

More Banking Law questions and answers in India