Cheque Bounce against home loan

5 years ago

Hi ,

I booked a flat on Aug-2011 in Noida and take the mortgage home loan from bank and bank paid the all home loan amount in favor of builder. Possession not given till yet which was given on Dec-2011 and stopped the construction. Builder absconding.. Builder office closed and not reachable. we paid the pre EMI till next 3 years after that we didn't pay the Pre EMI.. because i was not sure builder will give the Possession... Bank take blank cheque from me at the time of loan disbursement.... Bank fill the cheque with whole amount without my consent..and cheque bounce.. and file the case against me.. i told to bank i will pay all EMI after getting the Possession or you can take property... I told to bank loan amount goes to builder account... I don't know what i do? I havn't faulty.. I heard and study, there are no consumer liability pay the loan before Possession... I can pay EMI after getting Possession or can surrender property.

Please suggest in this case what i do?

Previous Question

Next Question

Deepak Yashwantrao Bade

Responded 5 years ago

A.you need to file a criminal complaint against the builder for criminal breach of trust u/s 406 and cheating u/s 420 of IPC . also demand compensation and damages with cost

Helpful

GANESH SHARMA

Responded 5 years ago

A.file a criminal complaint against the builder for cheating and criminal breach of trust. They file a suit against the bank restraining from using the blank cheques

Helpful

ROBERT D ROZARIO

Responded 5 years ago

A.Banking might be charging you pre-emi because there might be a clause in loan agreement. A proper vetting needs to be done before jumping into any conclusions. When you borrow to purchase an under-construction property, you probably do not notice whether your repayment mode is a pre-EMI or EMI. All you know is you have to pay an 'x' amount every month. You might feel joy when your lender offers you the 'facility' of starting the EMI only after possession. But this is not so as you believe it to be. Once the loan amount gets approved and goes to the builders account, interest start even before you get the physical possession. Someone needs to pay this interest. If at the time of booking the flat, had you incorporated a clause making the builder liable to pay the pre-emi until you get the possession, this situation would not have arisen. Your builder would be held accountable for any defaults by the lender bank. Which in your case did not happened.

Since you mentioned about cheque bounce, its most likely the bank will classify your loan as NPA and take give you a 60 days demand notice to discharge your dues to the bank. You should raise your objection within these 60 days from the date of receiving the notice. The bank will communicate its reply within 15 days or earlier. Thereafter the bank shall file an application before Chief Metropolitan Magistrate or DM for court proceeding. I'm not going into much details as of now. Further, the bank might bring a criminal proceeding against you under section 138 of NI Act for cheque bounce. You need to be prepared for all this least you be taken by surprise.

Now things which you need to do:-
(i) file a complaint with RERA against the builder so that builder gets blacklisted and cannot do any construction work in any other state
(ii) Initiate a criminal proceeding against the builder u/s 420/406 IPC
(iii) File a money suit against the builder
(iv) File a case against the builder before Consumer Forum for damages
(v) Contact your bank, don't avoid them as it will make matter worse. Try to work with them, tell them about your situation. I am sure banks will understand your situation. After all we are all humans. It's good to work with the bank and get some more time until this matter gets resolved.
(vi) lastly don't panic, there's always a way out.

Helpful

Mohd Imran

Responded 5 years ago

A.You must file a complaint against builder in Real Estate Regulation Authority if it has been working there. If it is not working than you can approach consumer forum to claim loss and compensation from builder,

Helpful

Ashish K Dongre

Responded 5 years ago

A.File a consumer case against builder,better you approached vidhikarya lawyer for the same.

Helpful

Ambrose Leo

Responded 5 years ago

A.You have a serious and complex case , better to consult a Property Professional Expert to guide & advice and help you and protect on all aspects of the issue quickly.

Helpful

Read Related Answers

Cheque Bounce - Section 138 Negotiable Instruments Act

Dear Client, Unlike a civil summons, which initiates a lawsuit, a criminal summons doesn't trigger the criminal proceedings. It simply serves as a formal notice notifying the accused of the charges a...

the judiciary system

Dear Client, It may please be noted that you have already responded to almost the same query twice in the portal earlier once on 06/04/2024 and again on 08/04/2024. So, it is recommended to avail of o...

cheque bounce case

Dear Sir, You have to contest the case hardly and putforth all the evidences to show that the cheque and promissory note were not issued for any consideration and all the amounts were cleared.

Cheque bounce case

Dear Sir, You have to contest the case hardly and putforth all the evidences to show that the cheque and promissory note were not issued for any consideration and all the amounts were cleared.

138ni act

Dear Client, A promissory note is a legally binding promise to repay a debt. Promissory note laws vary by state, but they typically include the loan amount, loan terms and signatures from both the le...

Read Blogs on Cheque Bounce

A Step-by-Step Guide on Taking Legal Action for Cheque Bounce

Section 138 Demystified : Key Facts Every Business Owner Should Know

Stay Ahead of Payment Defaults: Utilizing Section 138 to Ensure Timely Payments

Procedure to track Court Cases online - CNR number – QR code

Cheque Bounce Case Rules - Trace the Technicality

Cheque Bounce Lawyers

Kolkata

Bangalore

Allahabad

Nagpur

Vadodara

Type of Consultation	Fees
Phone Consultation	₹	Not Yet Updated
Meeting Consultation	₹	Not Yet Updated
Email Consultation	₹	Not Yet Updated
Video Conference	₹	Not Yet Updated
Request for quotation from the Lawyer.