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Author Topic: SARFAESI  (Read 668 times)

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Offline hellojimmyk

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« on: September 22, 2016, 11:48:52 PM »

I have purchased a 3BHK flat property in Hosing Society of Zirakpur, Punjab in February 2015 and for it I have availed a housing loan from Indiabulls. At the time of sale builder and lending bank has not informed us regarding any lien on the flat land. Builder at the time of availing the loan gave permission to mortgage and tripartite agreement to lending bank stating
That  “the said property as well as the said building and the land appurtenant thereto are not subject to any encumbrance , charge or liability of any kind whatsoever and that the entire property is free and marketable. We have a clear, legal and marketable title to the said property and every part thereof.” Moreover, Even in the Tripartite Agreement lending bank and the developer both did not show any type of project loan in this Agreement, Whereas the fact was, PNB was project lender.

Now to my sudden surprise, Punjab National Bank,  has taken Symbolic Possession of Aero homes Project under Section 13(4) of SARFAESI Act. 2002 read with Rule 9 of the said rules on 29.07.2016 and the same was notified in the Indian Express dated 03.08.2016 for a default of 28 Crores since 2015.

Builder is a willful defaulter and has again got a notice from State Bank of Patiala for 10 crores for his other GEM business and of his home loan on his residential kothi from PNBHFL

There seems extreme deficiency and fraud done by the builder and lending bank also.

Please suggest the legal actions


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