Auctioned apartment purchased from DRT belongs to Corportn bank
I have purchased an E-Auctioned Flat in Fourth floor by Debt Recovery Tribunal, Bangalore on 30 Dec. 2014.
This property belonging to M/s Corporation Bank, Asset Recovery Management Branch, Bangalore.
Before participating in E- auction, I have visited three times to Corporation Bank, ARM Branch, Bangalore for getting property details.
The Manager, Corporation Bank, ARM Branch, Bangalore. advised me to purchase this Flat and will get loan from the Corporation bank itself as there is no deviation in the property.
As per the terms of Debt Recovery Tribunal, Bangalore, I have paid the 25% of the total highest bid amount i.e. 07 Lakhs within 24 hours.
For the remaining 75% of the highest bid amount, i.e. around 20 Lakhs, DRT has given me 15 days time to pay the full amount.
I have submitted the application to corporation bank for availing home loan.
Corporation Bank, Cantonment Branch, Bangalore scrutinized and forwarded my home loan application to Retail hub for home loan sanctioning.
Retail Hub of corporation bank, asked the Approved Building plan for releasing the home loan.
The Corporation Bank, ARM Branch, Bangalore is not providing the Approved building plan for the e-auctioned property.
Now, I came to know that the building is not having a Approved sanctioned Plan from the Competent Authority.
I have arranged the total amount of Rs.20 Lakhs from friends and relatives and paid to DRT as they are forfeiting the 25% of the paid amount unless I paid the full amount within 15 days.
Without informing the irregularities of the building to the public, Corporation Bank and DRT is selling this type of litigated properties to public through E-auction.
I don't require this litigated property non-approved flat.
Kindly advice, how to get my money back.
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