if you had applied for loan of Rs 14 lakhs only bank cannot sanction Rs 18 lakhs

2) if you had signed blank papers wherein loan of Rs 18 lakhs was filled in you would be liable to repay Rs 18 lakhs with interest

3) bank would have disbursed Rs 18 lakhs to you . how can builder with draw Rs 4 lakhs in your name .

4) did you execute GPA in builder name ?

5) do you have any written assurances from builder that he will pay the Rs 4 lakhs loan

6) if builder has given assurances in writing sue builder to recover the 4 lakhs with drawn by hi m

7) you are liable to repay 18 lakhs to pay .

8) if you fail bank will auction property to recover its dues

1)it appears that you were sanctioned loan amount of Rs 18 lakhs and funds were disbursed to builder

2) obtain copies from bank as to your application made for loan

3) check if there is any over writing on application form by builder . if you had sought 14 lakhs how did loan amount increase to Rs 18 lakhs

4) contact a local lawyer . you are liable to repay loan amount of Rs 18 lakhs if application form for Rs 18 lakhs has been signed by you and bank has sanctioned and disbursed loan amount

Lodge criminal cases against the builder and the bank for cheating and criminal fraud. If the bank has issued notices of taking possession of the property, file a reply alleging fraud on the part of the bank and the builder, and threaten them that you will drag them to court.

File a petition against the illegal action being taken by the bank before the DRT and seek an injunction/stay against this. You will have to pay the outstanding amount so the court can grant stay.

You got many warning bells from the bank but it seems that you did not heed any one of those and continued to trust the builder blindly. Be that as it may, you should immediately now move the Debt Recovery Tribunal to seek a stay on the taking of possession by the bank, which may be granted if you deposit 50% of the amount.

Builder is one of the board members/ trusted customer of that bank. Bank manager does as the builder says. So builder told me that he will handle the situation and I need not to worry. Many notices were sent to me by bank but builder used to assure me and emi was paid as usual. Now the bank has sent me the notice of possession of the property.what should I do?

This is a big scandal the builder has involved you into.

The builder fraudulently swiped off your money and also never paid the emi amount also regularly to the bank.

Firstly you should understand one thing that there is no provision in law or the loan conditions that the loan on one person shall be repaid by two people.

You have lost your time energy and money due to the fraudulent activity of one culprit.

Legally the bank will initiate action against you for the default in payment, hence you have to meet the bank officials in person along with this fellow, sort out the things in person or else you dont have any relief or solution to this crisis/problem.

Bank directly disbursed loan amount to builder. I was not given the disbursement. My flat is of rs .22lacs. i have receipts of cash of rs. 8lacs given to builder .so I required only 14lacs as home loan.

You may lodge a criminal complaint agaisnt the builder with the local police for cheating and forgery offences including breach of trust.

When the builder is in police trap he may come down with some solution for mitigating the crisis due to this fraud.