Legal Question in Real Estate Law in India

We bought a flat in 2009 and got it registered in 2010 jan, recently we found through a newpaper ad that the area in which our flats are constructed are kept as colateral to other property in a bank. The bank has given a possession notice and the builder got stay upto two months in DRT court but he didnot pay the intial instalment and asked the court for 2 more week extension. Our loan was processed thorough LICHFL. We checked the Encumberence and found it clear. Now what is the way to safeguard our property from the bank and how true can be LICHFL word that even they dont know that the property is a colateral one.

Asked on 5/18/12, 3:02 am

ranganathan raghavachari R.Ranganathan & Associates

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Already answered this query. Why repeatedly asking the same query.

Answered on 5/18/12, 5:45 pm

Shrichand Nahar S.V.Nahar, Advocate

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Approach court with appropriate suit to protect your interests.

Answered on 6/07/12, 12:20 am

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