Opinion on auction property purchase
As a bank offered me to purchase auction property (piramal bank now previously it was dhfl)
but Bank doesn't have the original documents
as Bank saying that a bank employee as a manager made a loan with his own Bank by depositing the original documents as a equitable mortgage 2015
after sometimes about 2 years he has changed the original documents with the colour xerox and absconded and cheated the bank Till now he is absconded.
In November 2018 it has classified as a npa
Ine January 2019 issued demand notice
In September 2019 symbolic position notice issued
Ine October 2019 position notice published in newspapers
In January 2023 they have taken Court order from senior civil judge Gadag district for physical position and with the help of police they are taken a physical position and now the property is under Bank authority with locked
locks are with bank
In august 2023 bank published a public notice regarding loss of original documents and requested to if anybody having the original documents to return the bank
Now bank is ready to give certified copy from sub register instead of original documents
Owner is absconded since 5 years
Bank taken possesion since 10 months
Two times they have called for auction but no one as applied for that because of lack of original documents
Now bank is offering me at discount price
Weather I can purchase this property
whether legally I will become absolute owner or not
If anyone come with original documents in future what will happen
I have doubt Whether the owner deposited the original documents with any other banks as equitable mortgage
what happens in future
Whether I can purchase or not