Jul 10, 2018
Updated by H2R Respected sir,
I am Hari Sellappan. I have purchased a flat in
Prabhavathi builders Comforts project that is located in Mico Layout, opposite to st. Francis school, Hongasandra, Bangalore, Karnataka state. I bought this 2BHK flat when I was in South Africa in Jan 2016.I have given GPA to my mother to work on the homeloans from SBI. 90% of the loan amount was disbursed immediately as the work was completed almost 80%.i have been promised that flat will be handed over by June2016 hence I planned my travel in August 2016 for registration. But immediately after the loan disbursement, the builder slowly stopped responding.My wife was pregnant and and she was running 8 months but still we travelled just for the Registration by convincing her. But after coming here we came to know that (in August 2016)company went bankrupt and some 10 of their projects stalled. In my apartment only there are around 60flats on builders share. Imagine how much money they could have looted.The builders with the help of lawyers, bank managers and others taken almost all the money from the consumers and looted everything and declared that they are bankrupt. In some cases they have even sold thelandowner’s shares as theirs. Some people have lodged complaints and isssue even have been floated virally in media. Then his father later came down for negotiation in the
police station with our comfort projects owners and formed an association and we ourselves started carrying out the flat work by paying extra 1.5 lakhs from each flat owner and the work is going on now.I have been asking for registration since I came to India in August 2016. He kept on delaying the Registration. then I myself requested for encumbrance certification from the Registrar office and found that it is already registered on some one’s name and mortgaged with
corporation bank and did second selling to me.The first
person named Jeevan reddy with whom the builder has entered in to a sale agreement. This Jeevan reddy is also a fraud.This is how the builder does. He will enter in to a sale agreement with one of his employees or someone who trust him and then they mortgage with any one bank with the help of bank managers and give a lump sum money to to that
person on whom sale agreement is done who can never imagine or earn that much amount in his life. On this
person Jeevan reddy alone, there are 7 flats and all were mortgaged in different PSBs with almost 30lakhs for each flat. Just with a sale agreement how can banks can lend such huge amount that too when the building was only 50% completed.In my case, Even the SBI manager who sanctioned the loan also involved in this but I trusted sbi wholly. I have then asked the builder to give me some other flat but he was delaying and threatening me too. He understands our judicial system very clearly. He boldly says that i can go to court which he is ready to face and he says that anyways the case will not close Even after 10 years and says I will see that time what I have to do. When I spoke to the SBI manager he told me that I do not know anything about this issue and check with your current branch where your account is maintained.I filed an FIR (0468/2017)in September 2017 against the builder in Mico Layout
police station and no action till now. There are 15 cars including mine against the builder and no action has been taken on any of the cases till now which is pending for more than a year now.I have even spoken to the Southwest Bangalore DCP Boralingaya sir twice but no concrete action till now. This is a big scam and many people are involved in this and none of the government institutions seems to be helping a common man’s problem. The Manager who sanctioned my loan in SBI, the lawyer who has given legal opinion on my flat, the building Valuator who has valued my flat on a wrong sanctioned plan. The lawyer has given her legal opinion without obtaining the encumbrance for full 35 years. There is a gap of months from August 2015 to October 2015 which she has clearly mentioned in her opinion but still with out asking those missing details she has provided nil encumbrance. When I asked her how can you give such opinion, she gave me an irresponsible response that her junior has done this and she does not know anything about this. When I approached the bank, it is giving me wrong advice that I first register the flat on my name so that I will be the first owner and later the dispute will be settled through courts. Till now from SBI side, no action has been taken against lawyer or the builder or the building evaluator. My case is not the only one with SBI for this builder, bank even told me that there are couple of other cases against the same builder where the customers account has become NPA but still bank is very slow in taking action against them. The builder has particularly targeted the NRIs as this is the same case with the neighbour flat who is also an NRI. They clearly know that we could only coordinate from abroad and can’t come down and track what is happening here. I trusted only SBI not the builder when I purchased the flat. I was under the impression that bank will do all the background verification before sanctioning the loan and we are even paying for all the charges from lawyer to building evaluator. SBI is the biggest PSB in our country and has a major stake in our banking sector and if it fails to do its duty, won’t the country’s economy be toppled? We are one of the leading emerging economies in the world and we are trying to achieve 6billion dollar economy in few years but with this kind of banking system how long we can think our economy will survive? Why won’t then the NPA go up? The PSB’s irresponsible actions are clearly evident in cases like mallaya, Nirav Modi etc.. if This kind of issue continues, the government will only borrow more and more to match the spending and all those will again fall on the common people in the form of more taxes. None of the government institutions are bothered about common man’s problem. I have come in August 2016 to India thinking that I will go back in 6months but I am still here.I am not from a well off family to manage this loss. Even after knowing this issue, I continued to pay my EMI until end of December 2017 to just not my profile go in to NPA which I think pose a negative effect on my credit profile.Myself and my wife left our high earning job. Our whole life turned down.India is the top remittance receiving country and we were proud that we were also contributing something for our country but now We are thinking that our country is not for common man but it is only helpful for big defaulters like Mallaya, Nirav Modi etc. I have knocked all the doors to get justice but of no use.I request you to prove that our country is democratic not just in theory but also in actions by addressing the common man’s grievances.
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