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
Firstly, thank you for your response. Finally, I have a few queries.
According to the facts, my sister is accused in the matter because the loan is in her name. As the entire screenplay is directed by the brocker and the manager, my sister has little background on it.
1. Can we pursue a complaint against the broker and management because it was written by them?
2. Can we use the whatsapp chat and amount transaction with the broker and manager as evidence?
3. If the lawsuit is filed, what will happen to the property? Will the bank confiscate it, or will we be required to continue paying the loan?
4. Is it possible to keep the property for restoration after starting construction and paying EMIs?
Please advise on how to proceed with this scenario.
Asked 19 days ago