home loan
4 years ago
i have a home loan with HDFC and defaulted for neary 10 moths though made some payment got adjusted towards penal charges, i defaulted because out of job for last 3 years some how managed two years, now arranging all means also negotiating with few for selling and close the loan, I have not received any legal notice from HDFC till date other than computer generated mail requesting to clear the balance, now the bank executive says he will come an paste notice on the door stating default and mortaged with HDFC, which will affect my process of selling and the buyer may reduce the rate based on this notice thus depriving me of getting a better rate, my question is whether the bank act us legal to do withou issuing any notice to understand the problem though the executive is know all these things.
You may get issue a legal notice and also file a suit against them on the basis of following judgment.
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ICCI Bank Limited vs. Prakash Kaur case,
The Supreme Court in a landmark judgement reiterated its earlier stand that banks cannot deploy musclemen for recovery of loans from defaulters thus forcing them to end their lives.
"We deem it appropriate to remind the banks and other financial institutions that we live in a civilised country and are governed by the rule of law," a bench comprising Justices Tarun Chatterjee and Dalveer Bhandari said.
The court while dismissing the ICICI Bank's plea refused to delete the Delhi High Court's remarks that held the bank and its musclemen responsible for abetting a youth to commit suicide by humiliating him and taking away his motorcycle financed by the largest private sector bank.
It also asked the ICICI Bank to to pay Rs 25,000 as cost of this litigation to the respondents within three weeks and directed the Delhi Police to conclude the investigation against the bank expeditiously within three months, keeping in view the gravity of the allegations.
The court also directed the concerned Deputy Commissioner of Police to submit the investigation report in the Delhi High Court.
According to the court, complaints received by Reserve Bank regarding violation of the above guidelines and adoption of abusive practices followed by banks recovery agents would be viewed seriously.
Thanks.
Sandeep Pingale
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