Legal Question in Civil Litigation in India

a property was auctioned by bank for loan

later the plot was attached by the court for another nonpayment.Is the transfer possible. sethumadhavan


Asked on 2/02/13, 1:57 am

4 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

02.02.2013

Dear Sethumadhavan,

(Alampallam/Anakkal/Chithali/Erattakulam/Mulangot/Pallakad/Palakuzhy/Paruvasseri/Velanthavalam, Alathur, Palakkad, Kerala)

Both, the bank's claim (A) and the court's claim for another nonpayment (B) on one and the same property are paripassu charges, and eventually, both the liabilities of the borrower will be settled from the auction proceeds in the ratio of the claim amount of (A) & (B) respectively. Both claim charges will simultaneously apply.

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 2/02/13, 3:48 am
Jayesh Desai Jayesh Desai

It depends, whose charge was first and/or correct. Information as provided is incomplete to give appropriate advise.

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Answered on 2/03/13, 12:52 am
Sanjay Kalra Sanjay Kalra & Associates

NO......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.

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Answered on 2/03/13, 10:59 pm


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