• What to be done

Hello, I just acquired a home in my sister's name. Prior to the purchase, we applied for a bank loan. We hired a broker to manage the documents and get the loan approval, and then we went to the bank in city X, but the loan was rejected due to the ITR that the broker submitted, so the broker went to the new branch Y of the same bank, spoke with the bank manager, and got the loan approval for the property. 
We paid the broker's fee as well as the bank manager's charge because he was required to approve a certain amount. 

Now, the loan has been disbursed and certified by the bank, and we have begun paying the EMI, which is more than three months for a house loan. 
Now, the bank manager phones me and says that the ITR you submitted was forged, and the bank's emergency department has been notified of the problem. According to it, they are going to submit the lawsuit, therefore he suggested three things. 
1. Clear the transferred loan 
2. Pay excess disbursements 
3. Transfer loan account to another bank 


Here are my questions.
1. Because my sister was a un educated , the broker developed a false ITR and presented it to the bank, and we are not concerned that he had previously taken some of my sister's signatures on blank paper. Will my sister be A1 if the bank launches a forgery case?
2. The bank in city Y authorised the loan after reviewing all of the documentation that were presented, and we received the money. Can the bank bring a complaint against my sister?

3. Because we had no role in the fake ITR document, may we include the broker, who completed the work on our behalf? We have the transaction and have paid for the broker and bank manager as they requested. 
4. If the case is filed, what will the next steps be?
5. Can I apply for bail before they arrest my sister?
6. We discovered that the bank city X that refused the loan had raised the problem with bank city Y, where both banks are affiliated. How can we overcome this situation?

As of now, we have received no police compliance with any court orders, but we did receive a call from the bank manager who approved the loan. Please assist me.
Asked 20 days ago in Property Law
Religion: Hindu

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8 Answers

Sister will be accused 1 if bank files forgery case 

 

2) bank can file complaint against your sister 

 

3) only after FIR is filed can you apply for AB 

 

4) best option is to close the home loan as bank will stop disbursement on fraud being discovered 

Ajay Sethi
Advocate, Mumbai
94240 Answers
7432 Consultations

5.0 on 5.0

If bank launches a case your sister needs to prove that she has not cheated and committed forgery in said case

Prashant Nayak
Advocate, Mumbai
31573 Answers
169 Consultations

4.1 on 5.0

1. Whether uneducated or not, your sister is held responsible for what she has signed because the previous bank had rejected the loan application for the same reason, hence she cannot claim innocence and ignorance of law is not an excuse.

2. They have reason to file a suit against your sister because she has submitted the fake/forged documents.

3. You have full role to play in this because of the signature in ll the papers, the broker can be added as another accused by bank, but he will escape  because he will claim innocence of the whole thing.

4. You may have to face the same in court or better go for compromise at this stage itself to avoid legal consequences. 

5. You can apply for bail only if a FIR is registered.

6. You have done it well knowing the facts, hence you may look for remedy instead of agitating this

You better talk to the bank manager and try to resolve this issue

T Kalaiselvan
Advocate, Vellore
84440 Answers
2135 Consultations

5.0 on 5.0

1. Since, the said ITR is in the name of your sister , then she cannot claim her innocence  on the ground of education.

- Further , as there is no document in the name of broker , then there is no role of him , and hence the bank may accuse your sister for the same. 

2. Yes

3. If you have proof of payment to the broker and the manager , then you can lodge a complaint against them for the conspiracy of preparing that paper for sanctioning loan 

4. If an FIR is lodged then you sister can take anticipatory bail from the session court , so that she may not be arrested 

5. Yes, but not before lodging FIR

6. Better resolve the issues as suggested by the bank.

Mohammed Shahzad
Advocate, Delhi
12938 Answers
187 Consultations

5.0 on 5.0

File police complaint against broker and manager 

 

you can rely upon what’s app messages 

 

3) loan would be recalled by bank 

 

4) bank would not permit you to pay EMI if it is fraudulent transaction 

Ajay Sethi
Advocate, Mumbai
94240 Answers
7432 Consultations

5.0 on 5.0

1. Since it was signed by your sister, your proposed case against the broker and the manager may not be entertained.

2. Yes, you can use them in your complaint towards the money they received for doing this fraudulent activity

3. If the loan already paid is not repaid then they may adopt due process of law for recovery of the amount 

4. If loan itself stands cancelled where is the question of paying EMI amount

T Kalaiselvan
Advocate, Vellore
84440 Answers
2135 Consultations

5.0 on 5.0

1. Yes, it is necessary for the safety of your sister 

2. Yes, the chats of WhatsApp is admissible before the court. 

3. You can settle the dispute with the bank 

4. Yes, 

Mohammed Shahzad
Advocate, Delhi
12938 Answers
187 Consultations

5.0 on 5.0

Yes you can file above complaints 

only if stay is given by court or any injunction order is passed in relation to property then there may have a issue 

yes you can keep it for restoration 

Prashant Nayak
Advocate, Mumbai
31573 Answers
169 Consultations

4.1 on 5.0

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