You can apply to bank to reschedule loan and increase tenure of loan 

2) it is in your interest to repay bank loan and take possession of your flat 

3) cheque bouncing cases take 6 years to be disposed of 

1) You can file case in Consumer Forum plus with RERA against builder. If you have not got possession on time builder has to pay interest to you.

2) Bank can't deny the situation that building is not completed and how bank can take possession. You can ask bank to give possession and complete building procedure from.builder as to ready to live in the flat.

1. Since the bank has the security of the flat for its loan it can very well make attachment and auction sale of the property.

2. now since in this case you have not been delivered with its possession  and if the flat is not completed either or sale deed is not registered as yet, the bank can not manage to make attachment and sell it.

3. in that event it will go after you only to recover the loan amount by filing both civil suit and criminal case of cheque bouncing one.

4. So negotiate with bank and repay the loan. Else you will suffer with both civil decree and jail sentence.

If you the house is taken and amount of loan can be recovered through auction then you will not be held responsible for 138 cases.  Otherwise you have to contest the case in court. 

1. if the builder did not give you possession as promised then you should have taken legal steps against him either by filing a consumer complaint or a RERA complaint

2. you cannot just stop paying the bank's EMI

3. since you have defaulted the bank is within its rights to proceed against you as per law to recover its dues from you

4. you must clear the bank's dues and immediately file a case against builder either for handover of possession with interest for delay or for refund of your money [alongwith the money which the bank advanced to the builder] with interest and compensation

1.  Seems you have fallen for a racket between the Bank & the Builder.

2.  The above requires through investigation and how they trap flat buyers and then get the flats auctioned off.

3. Bank cannot have two legal remedies, one the cheque bouncing case and the second the Flat attachment case.

4.  IF you can, THEN try to settle amicably instead of falling into legal litigation's, since this will be time & money consuming,

Why don`t you file police complain agasint builder. In such cases, no jail. Bank has issued you notice or without notice took possession of property ?

See since the work is not complete the bank shall choose alternate way to recover the amount that is why they have file 138 NI complaint, you file a complaint against builder in consumer forum seeking compensation and possession of the premises and further talk with the bank to reschedule the EMI. 

First of all ask them to issue a legal notice to you in this regard.

You can give a reply notice denying the allegations.

Since the bank has taken possession of your flat, you may request them to proceed with the auction process and to adjust the loan amount from auction amount and to pay you back the balance amount after such an adjustment.

Since bank has taken of flat, ther is no necessity for you to pay the cheque amount, let them bring the property into auction and adjust the loan amount or let them release the flat which can be sold by you and repay them the loan amount, you can give them the choice.

No need to succumb to the pressurizing tactics of the bank officials as cases under section 138 of the Negotiable Instruments Act take 7 to 10 years to be disposed off.

But, you should keep in mind that you have to pay the bank anyhow. 

Also, you can file a complaint against the builder with the police if he is nowhere to be found after taking your money.

Hello,

File a case against the builder and ask the builder to refund the amount. 

Take the defense before the court that you have filed a case against the builder and as soon as the builder repays, you will be making the payment to the bank. 

Get in touch with a local lawyer who may go ahead and file a case for you. 

regards 

This is my response to you:

1. You will have to take criminal action against the builder;

2. You will have to prove that builder cheated you;

3. You can declare insolvency and file case against the builder in civil court;

4. Consult a local lawyer, take steps.

You can seek a grace period from the bank in order to continue with the EMI payments. You can clearly explain to them the reasons for not being able to pay EMIs such as loss of job or dip in sales of business, etc

Dear client 

First of all file a police complaint against builder for doing fraud and criminal breach of trust with you.

Also file a recovery suit and petition for cancellation of flat with regulatory authority under RERA act against builder. 

And for bank loan you can proceed with compromise other wise there can be more problem with you as you have will fully mentioned wrong coborrower name. And also document of loan are present with bank. So they can easily prove that you have took the loan from them. 

File a criminal complaint against the builder and also a consumer complaint against him in the state consumer redressal forum.

Regards 

1. As per the information mentioned in the present query, make sit clear that the bank is at fault by making he recovery suit for money to a NI act criminal case.
2. Home loan are civil in nature which can only be enforced before the court of law by filing a suit for recovery of money, but surely not cheque bounce case.
3. Cheques are only the way to get the money refunded, if got bounced then here it can’t be converted into a criminal case.
4. You should also file case for recovery of money paid till now and future will damages against the builder due to the fault at his end.
5. And also when bank has taken the possession of the flat then bank can auction it and retrieve their money and give rest to  you.