Surat | 01 Jul, 2021 (1 year, 8 months ago)

Property Law

Property purchased in auction having legal problem

I purchased property in Auction in 2019 from Allahabad Bank (Now Indian Bank) and in eauction notice bank manager mentioned that the property is free from all Encumbrances known to him. But later in 2020 I came to know that the property is legally disputed and the same property is already mortgaged to Dena Bank in 2013. And Allahabad Bank does not possess any release Deed for the same. Now what should I do? Bank Manager was not responding property before I filed a case in police station. After filing police case bank manager is telling me that he will give me the Money and Other Charges like property Tax and I should transfer the property back to other person as instructed by manager. But won't give any type of interest on the same. Can I claim the interest on this amount? And how much rate of interest am I supposed to get for the same. Will police file FIR against the bank manager under sec 420?
02 Jul, 2021 | 08:16

if fraud has been committed then of course the police will register a FIR against the manager. You can ask for the compensation which appears reasonable to you and the manager will most likely pay you the same. If he do not pay you then your purchase will be a complete and fair purchase without any encumbrances so you will be eligible to get a minimum of 5% of the total cost if its a property sold in auction by an executing court.

01 Jul, 2021 | 18:03

Dear client
As per your submission it reveals that this is a matter of purchase of property through Ban
I would like to see purchase certificate which issued by Bank
You can contact me through lawyered

01 Jul, 2021 | 17:42

Police will do nothing in this matter. You have to file an application before Debts recovery tribunal. For any assistance, feel free to contact me on my e-mail ""

Shubham Pabbi & Associates


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