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5 years ago

A flat was mortgaged by ICICI bank and total loan amount was disbursed to builders account, I was paying emi’s Regularly but I stopped paying them when I come to know that same flat was sold to others as well and builder was fraud. Now bank has deposited my security cheque which got dishonored and case under 138 has been filled against me.. please suggest what shall I do as builder is already behind the bars as loads of FIRs were logged against him
Bank is asking me to pay the emi’ s for something that does not exist. There is half done construction of this project
I am being trapped by the bank and builder
Please suggest

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GANESH SHARMA

Responded 5 years ago

A.Bank can not do like this since the property is already mortgaged as collateral security. Bank can recover dues by selling the property mortgaged. Filing case under the NI act are nothing but blackmail. Hire a good lawyer to contest your case

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Abhimanyu Shandilya

Responded 5 years ago

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A.Bank can not disburse the total amount unless the building is completed as disbursement happens as per the building/construction phase. Probably bank would have also committed some mistake which can be ascertained once you show all the papers and share the information.
I would suggest you to speak to a lawyer with all your relevant papers. You can speak to me too and for that you will have to fix an appointment through Vidhikarya.
Regards

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Viswanath M K

Responded 5 years ago

A.Immediately you have to lodge criminal proceedings against the builder, and become one of the parties in the case against him. After that, you will have to move the High Court seeking directions to stay 138 proceedings against you.

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