Property eauction details

2 years ago

From,

K.Saravanakumar,

No.1, Lakshmanan Street,

K.K.Pudur, Saibaba

15, Safdurjung Road,

New Delhi.



Sub:- Physical Possession Order issued on 19.12.2019.

Respected Madam,

I am SARAVANAKUMAR K (Age 41) my mother Mrs. K.Bagyalakshmi age 67 residing at NO.4 LAKSHMANAN STREET K.K.PUDUR SAIBABA COLONY COIMBATORE 641038. My mother, I and my wife Mrs.S.Vanitha(age 36) and my kid S.Yaksinishree(age 10) residing at the above said address. My mother Mrs.K.Bagyalakshmi having a property in the same residing address which is a residential building ordinary compound house with four tenants.The survey number of the property is 403/1 and we gave the property as collectral to Mr.P.Thangavel principal borrower of M/s.Jayadurga Textiles. He got the loan amount of 2 crores from State Bank of India, Saravanampatti Branch, Coimbatore by including other two properties. But the bank has joined my mother as a partner in the firm rather than that we dont know any details. But unfortunately the principal borrower Mr.Thangavel can't pay the EMI after 2015 he cannot pay the loan due to heavy loss in textile and we have filled the case in drt (SA.No.20/2016)and the bank also filled a case in the same(OA 217/2016) in meanwhile the bank eauctioned our property in this eauction we have lot of doubts. Since the property has been eauctioned on 27.2.2019, but the branch manager Mr.Munidra Kumar (State Bank of India, Branch Manager, Saravanampatti branch, Coimbatore) has given the sale certificate on 09.5.2019 and it is registered on 10.5.2019 to Mr.S.Sathyaraj who is residing at Erode. I want to know whether the bank manager has the right to issue purchase loan for the successful bidder without paying the full eauctioned amount. The property reserve price is 8400000 (Rupees Eight Four Lakhs Only) and the successful bidder has taken the property for rupees 8450000 who's name is S.Sathyaraj from Erode, coimbatore. He paid 37 percentage of the eauction amount Instead of full settlement at the time of eauction. Bank has issued purchase loan for rupees 5310000 to the successful bidder. I want to know whether the bank manager has the right to issue purchase loan for the successful bidder without paying the full eauctioned amount. The property reserve price is 8400000 (Rupees Eight Four Lakhs Only) and the successful bidder has taken the property for rupees 8450000 who's name is S.Sathyaraj from Erode, Coimbatore.







Meanwhile in this time the bank approached for taking physical possession to the collector office and the collector have issued a physical possession order on 19.12.2019. On behalf of this order the letter stated that we have called three times for enquiry on 16.10.2019, 03.12.2019 and 13.12.2019, but the reality is we have not received any letter from the letter regarding this enquiry. On 04.12.2019 we have received a letter for a enquiry which have been conducted on 03.12.2019. Since on the next day we have received the letter we are unable to attend the enquiry. On 21.01.2020 the North Tahsildar, Coimbatore came to my home and told to vacate the house within 2 days, on that moment we have issued a petition to collector stating to give time. Moreover there are 3 tenants residing on that property with family, in this statement I want to know why bank have not included the action purchaser in the physical possession order. In this time dt.16.03.2020 Revenue Inspector, Ganapathy, Coimbatore have came to my house and told to vacate the house within 2 days that is tomorrow dt.19.03.2020 moreover they said that if you are not able to vacate we will seal the materials and pull you out from the house. I beg to submit the following further information regarding that the property is in the name of my mother K.Bagyalakshmi, age 67 years. The above property is located in the prime area of Coimbatore, Saibaba Colony. The prevailing for the site alone Rs.25 Lakhs approx. per cent again the building in the same site is Rs.5 Lakhs total value of the property is approximately 1.55 Crores(Our property is 6 cents and 6 Sq.Ft.Total 2610 Sq.Fts.). The bank to set aside the loan, sold the property for a meager amount of Rs.84,50,000/- which is 50,000/- rupees above the reserve price of Rs.84,00,000/-. This has incurred me a loss of rupees around 75 Lakhs which is an major for my mother at this age, because of this loss we are put to major hardship, financial loss and we are on the road almost. . I request you to kindly put an enquiry with your department regarding the real value of the place, the bank has underquoted the survey value on that time of eauction which is held on 27.02.2019. Iam requesting that you can also verify the market price per cent and the last registered market value in regarding of recent registrations. I beg to you that please conduct an enquiry in this case and please issue a specific time of atleast 2 months for further proceedings. In this time of Coranavirus have been spread all over the places iam unable to search a house for rent and shift my family. So please madam I beg to take immediate action within tomorrow orelse there is no way for me to taking a decision of commiting suicide with my family.

Hence I request your good self to kindly to consider my complaint as valid one and help me to give a justice in this matter within tomorrow.

Thanking you, Yours sincerely,