Legal Question in Banking Law in India

I have purchased a property by a public tender under Sarfaesi Act on Aug.2007 from a prime bank. I have paid the total amount to the bank. Since Aug.2007 the bank did not issue any document to me even a sales certificate confirming that I am the winner of the tender. I have been following the matter upto the level of Chairman level. Now (July 2010) only they issued me a sales certificate which states that they have delivered all the documents and handed over the property etc which is not actualy done by the bank. Now approximately 3 years over. Kindly advice me how can I can I protect the property and how can I claim Interest for the delayed period. Please note that the propety was actioned without evicting the borrower of the bank and they still living in that premises. Please let me know who is responsible to arrange the eviction of the bank's borrower. The property was actioned 'as is where basis'.


Asked on 7/31/10, 12:42 am

2 Answers from Attorneys
www.lawconcern.com S.Seshadri www.lawconcern.com

You cannot claim interest but can claim compensation for the delay in execution of sale-certificate.Provided that you have not contributed to the delay.

Your question is obviously not what you have actually stated here. If you want to wriggle out of the sale it may be possible only after you consult a lawyer with all the documents.

www.lawconcern.com

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Answered on 7/31/10, 1:02 am
Fahri Toga TOGA//OKSUZ

Dear contactor thank you for contacting us.

We have just received your message. For giving a precise and a detailed answer please send to us on the following e-mail address more information and the document regards this problem. We will be able and available to answer any of your questions. So if you will have any question please do not hesitate to contact us.

Not: [email protected]

Best regards and best wishes.

Attorney at Law

Fahri TOĞA

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Answered on 7/31/10, 3:58 am


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