nagaraju at 6:37 p.m. on 13 April 12
an individual borrowed loan from state bank of india house property in the name of his parents was mortgaged and his parents stood as gurantors and he became defaulter.
Father of the said individual borrowed amounts basing on pronotes from many people and became defaulter and all their family left the town. approx four people filed suits for recovery of amounts, along with the attachment before judgement. Honourable passed exparte decrees and made attachments absolute. recently the banker proceeded according to securitisation act and break open the house property and took posession called for tenders and confirmed. At the lower rate than that of the market value. in what manner the decree holders may realise their due amouts?
the said banker is a respondent in the insolvency petition filed by the defaulter and gurantors, along with other persons and soem of the decree holders.
oen of the decree holder is not a party to the IP. the said decree holder filed an EP and an EA against the banker not to sale the property as it was attached by the court. But the banker moving on is own way. How he can realise his part of due amount.