To stop the banks from loan recovery against a non willful defaulter
1 year ago
Sir , I bought a property wherein the sale agreement had the clause of buy back and payment of Pre Emi from builder till possession . We have filed Rera against the builder as they have stopped Pre Emi payment willy nilly and reneged on the promise of buy back as well .Rera judgment we got mentioned builder to pay the pending Pre Emi's as well pay future emi's but did not cover the part where we have requested to instruct builder to complete the buyback . After the order we have intimated the banks by sending legal notices multiple times that collect the Pre Emis from the builder as per Rera order but the banks still treat me party at default . Banks has send me a notice under Sarafaresi act and filed couple of ECS bounce under sec 138 .
Please tell me how I can now stop the banks from proceeding and force builder to return the deposit and other amount and take over the loans since I am not interested in possession as it was an investment purpose only .Any help would be generous thx.
After getting RERA Order you need to go for its execution. File the execution application for executing it.
Also approach the civil court and make the builder and bank party to it and get the interim relief order from the court against the bank and builder.