See original owner has to file an FIR about frogery, Challange the auction and file for.cancellatuon of.transfer and take stay on same.
Bank using sarfaesi act to take procession of house for which loan was given against a fraud documen
A bank had given loan to a buyer to buy a house . The seller submitted a forged sale deed and obtained money towards sale consideration from bank and registered the same in local SRO in the name of buyer. The loan was not paid by the buyer ( may be seller and buyer were part of the crime) for what so ever may be the reason. Buyer never took procession of property. the buyer/bank never verified the link documents and they are fictitious ( as given in the executed sale deed). After few years the bank started recovery process and the actual owner came to know of the situation. The actual owner has the physical procession of property. The bank sold the NPA to some ARC and ARC has pasted a symbolic procession of property on the property under sarfaesi act. They have threatened to take physical procession with in short time. What is the remedy the original owner has in such cases. though the bank /ARC has a original registered document, the doc was created based on a non existing sale deed in the name of seller
Asked 6 years ago in Property Law
Religion: Hindu
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11 Answers
He had to approach the bank for settlement or approach DRT
Original owner has to file declaratory suit that he is absolute owner of property
2) seek orders to set aside fraudulent sale deed executed by fraudster
3) seek injunction restraining bank from auctioning his property
4) also file police complaint of cheating , fabrication of documents, forgery against fraudster
Immediately move to Debt Recovery Tribunal. Hire an advocate and obtain stay unless it would too late.
Hi
The original owner should approach the debt recovery tribunal and file a section 17 application under sarfaesi and challenge the possession/auction notice if any on the following grounds:
1) that the property in his possession was never sold.
2) that he is not party to the loan facility and
3) the property cannot be subject matter of sarfaesi.
to stop the a r c in this regard to take position of the property you have to approach High Court to get order in this regard this is the responsibility of the bank to verify the actual document submitted in regards to sale of the property and if builder has transferred this property any third party third party liability towards the bank on the property does not arise
You are neither the seller nor buyer/guarantor and property is in your name.
Approach DRT, on first date, tribunal will stay the bank proceeding. It is onus of bank to pre verify property possession and ownership.
file a suit for declaration and injunction in civil court against the bank.
file complaint under cheating and forgery .
The original order can file a suit for permanent injunction against bank from restraining bank from taking possession of the house.
Bank cannot take possession of the house as it was fault of the bank that they have not verified the documents of the property.
In this case it may be possible that some bank officials are part of the crime done by buyer and seller.
The original owner can also lodge FIR for using false documents of his property to obtain the loan from bank.
You have to approach DRT with a petition seeking injunction against the bank or the ARC on the same lines.
You may first obtain a temporary injunction and then fight the case all through.
- As per the information mentioned in the present query, makes it clear that the original owner is the real owner irrespective of the fact that the Now sale deed is also registered as the prior document would have more value than the present.
- As the second subsequent deed has not been made by involving the real owner.
- Possession of the property also matters as the same is with the real owner.
- You should approach the court of law, Hon’ble HC by making an urgent petition against the stay of the sarfasi act.
