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2 years ago
My father got the share from my grandfather and he got second marriage and deny to give me share then I filed a civil suit and he gived the statement the he will give the 1/3 share at the time of selling and civil judge passed the decree on same in 2011, but now bank going to auction this property because my step brother took a loan against property and father gives garrantee in this loan. Loan amt. 50 lac but property is 1.9caror
Any remedy for me to get my 1/3?
Ankur Goel @ Complete Law Shield
Responded 2 years ago
A.You should have asked for property to be re-registered with 1/3 share on your name.
Bank have right over property.
You can file an suit to get injunction order for your share so when property will be auctioned then you will be paid your share.
Otherwise you can pay the dues. You can even get property by winning in auction and then claim 1/3 share but its clumsy.
Bank have right over property.
You can file an suit to get injunction order for your share so when property will be auctioned then you will be paid your share.
Otherwise you can pay the dues. You can even get property by winning in auction and then claim 1/3 share but its clumsy.
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A.Hi,
You can only challenge the bank's power to auction if you feel it is against the law. The property was still under your father's name on the day the loan was advanced so the recovery dues need to be paid to recover the property. The bank is empowered to auction property u/S 13 of Securitisation and Reconstruction of Financial Assets Act.
If yo found my answer helpful, then kindly rate me.
You can only challenge the bank's power to auction if you feel it is against the law. The property was still under your father's name on the day the loan was advanced so the recovery dues need to be paid to recover the property. The bank is empowered to auction property u/S 13 of Securitisation and Reconstruction of Financial Assets Act.
If yo found my answer helpful, then kindly rate me.
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hi,
The banks are empowered u/S 13 of the Securitisation and Reconstruction of Financial Assets to attach any property for auction to recover the dues. The only way to get your 1/3 is to pay the recovery dues. You can also challenge the bank before the Debt Recovery Tribunal.
If you found my answer helpful, then kindly rate me.
The banks are empowered u/S 13 of the Securitisation and Reconstruction of Financial Assets to attach any property for auction to recover the dues. The only way to get your 1/3 is to pay the recovery dues. You can also challenge the bank before the Debt Recovery Tribunal.
If you found my answer helpful, then kindly rate me.
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