Flat purchased under sarfaesi act.
Seeking your advice and guidance in respect to my following case:
I have purchased a flat in Auction From duly Assigned ARCIL vis-a-vis "Asset Reconstruction Company India Ltd" (original lender DCB bank). I have paid Full Amount and received highest Bidder Certificate, Sale Certificate and Possession Letter, Physical Possession from ARCIL.
The flat was on the name of Younger brother (Willful Defaulter) and his mother (Joint Owner). Now the Elder brother (Guarantor) of Defaulter had claimed in High Court that on his guarantee, his younger brother (Borrower) had got the amount from various investors. Since the Borrower became insolvent Guarantor wants to recover the amount which is due to investors by disposing the property (FLAT).Guarantor had received AWARD from high court for the same in 2012. Property was mortgage with Bank since 2011 (Mortgage was unknown to High Court).
Also the guarantor had filed suit against ARCIL in DRT-III, but it got disposed due to absence of Appellant Guarantor on 01/04/2016.
High court had appointed a receiver who has Symbolic Possession.
Society denies to transfer the shares on my name & cooperate.
I have the following documents which i can provide for understanding more clearly.
a) DRT court Order (Mahendra Sangani [Guarantor] V/s ARCIL)
b) Application in High Court (Mahendra Sangani [Guarantor] V/s Vipul sangani) i.e,. Guarantor V/s Borrower.
c) Court receivers orders affixed near Door of said flat.
My questions are.
1) How can i get rid of this case?
2) Should i inform court receiver/ high court about purchase of property under SARFAESI ACT? If yes, how should i do it?
3) Since Symbolic Possession is with court receiver, Society is avoiding to cooperate with me in terms of NOC or transfer of Share certificate. What should i do?
I am willing to talk/chat with anyone who can guide me better. Please help me.