Sir,
I have participated in the auction held by the axis bank, madurai on 1.3.2010 and was the successful bidder of a residential building at k. K. Nagar, madurai, which belongs to the defaulter borrower hasina banu. I have paid the entire sale price of rs. 60, 40, 000/- and the sale certificate was issued to me.
After the purchase, i was shocked to receive a notice from drt, madurai in s. A. No. 10/2010 filed by the borrower, initially challenging the possession notice. Your bank official who has knowledge about the litigation did not inform me and by suppressing the case sold the property to me.
The sale was set aside by honourable drt, madurai as the bank has not issued the sale auction notice to the borrower. So bank official was not followed the mandatory provisions of the act. The bank without returning the amount to me, preferred appeal before drat, chennai in r. A. (Sa) no. 121/2011. The borrower is in possession of the residential building bank is keeping my money. On the date of auction the due was only around thirty two lakhs only. The bank neither refunded the balance sale balance sale price to the borrower nor return the entire sale price of rs. 60, 40, 000/- to me.
Since the officials of the bank assured that they will succeed in the appeal and handover possession within a short period. I was waiting. But the bank has no inclination to proceed with the appeal before drat, chennai.
Myself, my father and brother are the directors of thangam group of companies. We have borrowed nearly rs. 9.38 (Nine crores and thirty eight lakh) crores for construction of the hotal thangam grand from indian bank, madurai and struggling to pay the monthly emi.
The bank officials continuously got adjournment on flimsy reasons such as senior not available, to get instructions from the bank. Senior out of station, when enquired with mr. Thiagarajan, the legal manager of your bank. He said that he will not proceed with the case and his advocate also is not interested in arguing this case. He further informed, the bank is now changed their counsel for other cases and no cases are given to mr. Krishnappan who is now appearing for the bank. Further when i insisted him by informing my urgency, he started demanding commission to settle my entire amount with interest. I was shocked. I apprehend the bank officials colluded and dragging the appeal to agree to their terms.
The act of getting too many adjournments is causing severe mental agony to me. Last hearing i informed mr. Thiagarajan that my counsel is coming from madurai and every hearing i am spending minimum of rs.20, 000/- and requested him to proceed with the case. But he refused and said unless his demand is accepted, he will not proceed with the case. On 27.10.2017 also same thing happened one junior advocate appeared and sought for time as senior not available and the case is posted to 13.11.2017. Immediately, i called thiagarajan over phone in his cell no.[protected] he stick to his demand.
Under these circumstances, i have no option to clear my loan with indian bank. For monthly emi, i am borrowing from 3rd parties for interest. But axis bank is keeping my money. If still the bank seeks for adjournment i have no other option to commit suicide and the bank officials are solely responsible for the same.
Thanking you.
Yours faithfully,
R. Ramesh.
Axis Bank customer support has been notified about the posted complaint.
