Finance company not returning property documents. Asking more money.

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This topic contains 3 replies, has 2 voices, and was last updated by  Deepak Puri 4 months, 1 week ago.

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  • #4168

    In a dispute with finance company of Housing Loan. FI sent me notice of possession of property. For stay I filled an application to DRT Court. DRT court passed an order to pay 1 lac rupees to FI in 2 installments (50,000 in 15 days and 50000 in 15 days thereafter) and with this payment FI shall return my property documents. I paid to FI 50,000 in 15 days and filled review petition with DRT Court which took 2 months. DRT court passed order to pay rest of 50,000 to FI. I paid 2nd 50,000 to FI in 15 days. Now FI is not returning my property documents and asking for more money and making false statement that DRT court passed order to pay 1 lac rupees and overdue and litigation charges. But I already paid 1 lac rupees to FI said by DRT court.

    WHAT CAN I DO IN THIS SITUATION? any help.

  • #4175

    Firstly, there appear to be contradictory interpretations of the DRT order – one by you and the other by the FI. Please consult your lawyer or some other local expert, by showing him the DRT order, to clearly understand the DRT order, as to which interpretation is correct.

    If your interpretation of the DRT order is correct, then the FI is committing a contempt of the DRT by not complying with it. You can file the necessary contempt proceedings for non-compliance with the DRT order. Or, otherwise, file an application before the DRT seeking direction to FI to comply with its direction of returning your property documents.

         


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  • #4177

    This is complete text of order:-

    Heard both sides. The counsel for the applicant submitted that there are only 10 installments due of Rs. 5409/- and whereas the counsel for the respondent FI submitted that there is Rs. 1,27,000/- as per notice under Section 13(2) of the SARFAESI Act besides the legal expenses. At the balance of equity, it is a fit case to give a direction to the securitization applicant to deposit Rs. 1.00 lacs towards the balance amount and delayed interest and legal expenses also. On such payment, the respondent FI shall return the title documents to the securitization applicant immediately. The said amount is payable in two installments. The first installment of Rs. 50,000/- within 15 days and the balance amount of Rs. 50,000/- within 15 days thereafter.

    With the above directinos, SA itself is disposed off.

  • #4178

    Above given text is Complete Court order passed by DRT Court.

    I talked to my lawyer about it. He is confirming that only 1 lac amount have to pay.

    When I visited to FI office to pay 2nd 50,000/- draft. I talked to FI’s legal executive dealing with me in this matter. He also commit that this amount is final amount and they will issue NOC in 15 days and return documents within 1 month as this is procedure of closing Home loans.

    After 21 days I made a call to FI legal executive asking him NOC and property documents. He started playing dirty tricks.

    Totally confused: My lawyer lied to me about this order or FI playing dirty tricks with me.

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