Greetings, Myself Ram, with my almost 7 years of saving I took house on Lease basis, for 2 year (1.7.19 to 30.6.21) amounted Rs. 9 lakh ( through RTGS paid ) , while selecting house i have cross checked the Property EC to confirm Owner & any loan are already exist. Unfortunately in EC the transaction and name was updated as Rajashekar (House Owner) no any bank name entries. Also enquired House owner he mentioned no any loans. Everything was going good all of sudden there was notice in house owner name which pasted on building stating the emis are not on time even after multiple follow up and notice to his personnel address so the bank will be proceeding on posseion. With this shock we tried to contact owner but he was absconded ! we raised FIR on him but no use police were not showing interest in tracking him. finally we approached know lawyer based on his opinion myself and ground floor tenant paid stamp duty fee with penalty ( Oct 2020 ) since our agreement was just printed on 200 rupees stamp paper and it was not registered. Unfortunately he just wasted my time and money - he just raised one case in Civil court and left ! not even single day attended the case. The case also in stage of rejection because of Maintainability ground. After all this we approached another lawyer he mentioned in this case there is no hope since its Bank money nothing but public money court will give first preference to bank whatever they get on auction bank will take ! there is no possible of Higher amount expectation - bank has given more than property value.The present property value is 90 lkh but bank overall recovery amount itself 1.25 CR .since we already spent more we are not in position to fight against bank at DRT since we may need to pay half of property value to fight ! At last we are trying to get stay from Magistrate court for temporary relief. I am planning to approach Govt based Law association . I am financially got full weak right now ! my few question are - 1. is there any way that i can get money by raising my request at Honorable Court - or even postponing the possession process ? 2. I am kind innocent here - till today on EC there is no Bank name - i cross checked everything and took house. can any possible to raise complaint on any forum against bank since they given higher value and not registered the loan. 3.Even in worst case can i stay in present house till auction procedure complete. ? ( few supporting info : the loan given before we entry into lease agreement. the bank started to possion procedure from almost Feb 2020 but still not taken into possession not sure what the issue, I The ground floor tenet also paid 9 lakh lease and facing issue, they are senior citizen with handicap son ) Dear Lawyers your valuable knowledge & suggestion will save two family ! 9 Lakh is very big amount for Middle class family. Please answer your suggestion with Sections. Please HELP US .. i am feeling all laws are in favour of Bank !
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You have to sue the property owner to recover your security deposit
2) since property owner has defaulted on bank loan bank will be justified in auctioning the property
3) you can continue to remain in physical possession
4) request bank to defer taking delivery of possession till e Piet of lease period
5) you can file application before DRT seek stay
1. You may have to appraoch DRT to obtain sty order against the proposed action of taking possession of the premises by bank on the basis of your lease agreement which expires only during Jun-21.
If the lease agreement states that the landlord has to return the lease amount to you on expiration of the agreement period, then you may even make a pleading that since the landlord is missing (copy of the FIR to be enclosed), you cannot vacate the premises until the lease amount paid by you is returned or paid by the bank out of the sale consideration amount.
2. Please note that the bank will not register the property for the purpose of mortgage home loan, but the bank would have registered the memorandum of documents in which the title document would form part of the list of documents of the MOD.
Therefore it is not necessary that the home loan should reflect in the EC against this property.
3. You can remain to reside in the property until the bank is initiating the auction process through court of law.
In the meantime you may seek an injunction against bank to not evict you from the property till your advance / lease agreement is not returned.
Let the court decide about your request/relief.
Dear Sir,
You are suggested to register complaint in police against the landlord/owner for cheating as well as misleading you people, grabbing the amount and also file application for stay of auction of the property by the bank.
You need to find him for criminal offence and civil offence for recovery. With bank you can't do much of the things as they will seek possession warrant and vacate the flat under sarfesi Act
