Legal Question in Civil Rights Law in India

My case goes like : my father have bought a leased property in 1984 along with my uncle and every year entered the same as HUF property in their balance sheet from than. in 2000 they mortgaged the same to a bank. But were not able to pay back the loan, so the account became NPA in say 2003. After that bank followed all secutrization proceedings and tried for auction but no one came fwd to take the same. Than after the bank sold the same to a person calling it as private trity. All the dues of government (like leased extension/Btenure charges) were filled by the purchaser. And this all was behind the back of the loan borower(my father), as he was never had any knowledge that the property is sold by the bank by way of trity and he has never given his concern to the bank for the same. What can now be done to get back the thing i:e my property. Kindly suggest and let me know if that has any thing positive like .


Asked on 3/02/13, 6:00 am

4 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

02.03.2013

Dear Sir / Madam,

The bank is well within its right to sell the mortgaged property to recover its loan dues. There's nothing you can do except ask for the excess if any i.e the surplus between the sales proceeds of the mortgaged property minus the total overdues of the bank.

Regards,

FCA Prashant Chavan

Mumbai

(You can also mail me for any further on-line advice at [email protected])

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Answered on 3/02/13, 8:18 am
Jayesh Desai Jayesh Desai

File an appeal before DRT, under the Secularization Act.

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Answered on 3/03/13, 12:17 am
Sanjay Kalra Sanjay Kalra & Associates

You still have chance to recover your property by challenging the sale as it was not done accordance with law.....Engage a lawyer to guide you properly . Dont loose this opportunity.......................Please check Sanjay Kalra and Associates on the internet to know more about our law firm and the legal services we are rendering for our clients from all over the World.

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Answered on 3/04/13, 1:41 am


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