Individual property right / ownership impacted due to procedding against the developer.
We are the 66 individual flat purchaser/legal owners out of 142 flats of a residential society in Surat (Gujarat), whereby, sale of these flats occured between 2018 to 2022 at different dates.
Recently, in Jan 2024, we came to know that builder had not repay the the loan, they borrowed from a NBFC. And the Lender and Builder are facing judicial procceddings in this matter.
We came to know about the matter, when, the lender along with their legal advisors, pasted a notice, issued by majestrial authorities on 135 flats. According to which, we are warned that, the the said 135 flats, should be vacated within 14 days of issue to the notice, so that the authorities could seal the flats and handover it to lender, as a part of proceeding against the borrower/builder under SARFAESI Act, 2002.
Since, this notice is issued to developer / builder of the society, and we are the legal owners / holders of the flats, listed in notice issued, facing impacted as third party.
Please help us and suggest the remedies.