This is regarding NOTICE U/S 13(2) of the securitisation and reconstruction of Financial assets and Enforcement of security Interest Act 2002( SARFASEI) I have two different Home loan account. One account at PNB Saltlake (erstwhile United Bank Of India , Saltlake). ---------- I am not a willful defaulter of this loan . Home Loan 763300NC00000152 At Punjab National Bank , Nagerbazar branch . ----------------- Till date , all the EMI are paid for this account. I booked an under-construction project in the year of 2013 , which was United Bank of India approved project. I took loan of Rs 7 lac & paid 15 lac to the builder in instalments . But builder did not complete the project & I had to cancel the project In tripartite agreement , it was written that if the borrower desires to cancel the booking, the money should be recovered from the builder & the shortage amount , if any will be recovered from the borrower. The said matter had been multiple times taken multiple times with PNB Saltlake (erstwhile UBI Saltlake) & as per para-5 of the tripartite, I requested PNB Saltlake to settle down the loan outstanding dues with the developer /builder , who failed to comply with the agreement . However , PNB Saltlake did not reply to me & they did not settle down the loan account. On the other side , as builder did not refund me on cancellation I filed a suite at Cosumer forum , Barasat. After filing this suite , I stopped paying EMI to UBI with a proper Intimation . In this intimation I again requested to recover the money as per para -5 , though I was paying the EMI after cancellation too. Later I purchased a new flat and took another home loan from PNB, Nagerbazar branch (763300NC00000152). Till that time all the EMI was being paid on time for the previous loan on time. amalgamation of UBI & PNB, PNB suddenly informed that my new LOAN account has become NPA as the old loan account (UBI) to NPA . I again informed PNB to settle the loan account as per para -5 of the tripartite agreement . But PNB this time replied that as the old loan cannot be settled with the builder as the matter is sub judice because of my filled consumer case. I again requested PNB to settle down the matter by following either of the three options Option 1) PNB (Erstwhile UBI ) may become a party of the suite (my filed consumer case) Option 2) PNB should wait for the verdict of my filed consumer case . Option 3) Consumer forum did not instruct PNB to recover his portion of money (loan outstanding ) from the builder . PNB can still demand his portion of money from the builder legally & I will settle down my portion of money at the form. In spite of my all good efforts to settle the outstanding in PNB(UBI ) , today I Suddenly received a NOTICE U/S 13(2) of the securitisation and reconstruction of Financial assets and Enforcement of security Interest Act 2002( SARFASEI) for the new loan/property , where I never missed any EMI .
First answer received in 10 minutes.
Lawyers are available now to answer your questions.
send reply to notice received under section 13(2)
2) take the plea that you have paid all EMI for new loan
3)as far as earlier loan is concerned you have cancelled booking and sued builder to recover money paid by you
3) ask bank to take recovery proceedings against builder as per terms of your agreement
You need to immediately reply to the said notice and pray for stay before DRt
If you have received the notice then it becomes your duty to issue a reply notice denying the allegations leveled against you.
If this loan was not declared NPA then this law notice is invalid and you can sue the bank for this deficiency in service through consumer forum besides seeking action through DRT for staying further action by bank.
You have to file reply to the legal notice by consulting with lawyer.
Today chief manager , PNB expressed his anger saying that I needed to inform PNB (earlier UBI) before filing consumer suite against the builder for non-refund of the cancelled booking . As I have filed consumer case against the builder , now bank wont take money following tripatriate agreement -------------- Here is the para -5 of the said agreement - If the allottee borrower desires to withdraw from the scheme or in the event of cancellation of the provisional allotment of the house property for whatsoever reason or if he/she fails to pay the balance amount representing the difference between the loan sanctioned by United bank of India and the provisional/final price of the house property , or the contract between Simoco Systems & Infrastructure Solutions Ltd. (Developer) and the allottee borrower is terminated or rescinded for whatever reasons . Simoco Systems & Infrastructure Solutions Ltd. (Developer) shall refund to United bank towards repayment of all outstanding dues within 3 months of such withdrawal /cancellation/termination/rescission. And thereafter , the balance ,if any .to the allottee borrower after deducting there from such amount as may be recoverable from the allottee borrower in accordance with the provisions of the scheme and terms and conditions forming part of the provisional allotment letter----------------- I asked if you have difficulty to recover the money as per the above terms due to my filed case . Then the bank should wait for verdict of my consumer case . But he says bank cannot wait anymore . I told why the bank is attaching the property under good loan , where I am paying EMI in time . Chief Manager also told as per RBI guideline , if one loan is NPA whatever is the reason, all other good loan will be declared NPA ............... I told why no notice was served for the first loan . he did not answer .
Send reply to notice received from bank as mentioned herein above
let bank take recovery proceedings against builder
don’t with draw your case before consumer forum
The bank manager is wrong or incorrect in his action taken against you on this.
He cannot declare other good loan as NPA for the reason that the other loans of the borrower has become NPA.
You can file a complaint against the manager with his higher authority stating that the manager is indulging in such illegal activities without knowing what guidelines has been issued by RBI in this regard.
If at all the manager is mentioning the RBI rules in this regard, you can ask him to furnish the said rules or guidelines of the RBI so that you can take further legal action on this.
If the bank manager is stubborn and adamant about this subject, you may file a petition to implead the bank as second opposite party in the pending consumer case seeking relief of stay against him for his proposed action under sarfaesi act on the other loan, alternately you can file an injunction suit or an application before DRT against the bank restraining him from proceeding with the proposed for taking possession vide the notice he had sent to you.
Good