PNB Housing Finance — Harrasment for Auctioning the flat

Address:

Mumbai City, Maharashtra

Date- 09/12/2014 From, Arvind Ayengar K 101, Mont Vert Seville Apartments Wakad, Pune – 411 057 #[protected] To, The Officer In charge, Grievance Redressal Mechanism PNB Hosing Finance Ltd., 9th Floor, Antriksh Bhawan, 22 Kasturba Gandhi Marg, New Delhi – 110001 Sub: Complaint against PNBHFL, Villeparle Branch, Mumbai and its officials Mr.Sanjay Vaishy and Mr.Sushant Kumar. We have availed a Home Loan from PNBHFL, Villeparle Branch, Mumbai on Oct 2012 for Rs.38 lac to purchase a re-sale flat at Pimple Saudagar, Pune, from Mr & Mrs. Janaki Matani ( Seller) As per the purchase deed agreement dated 10th October 2012, an amount of Rs.25 lac was also paid by the Ville-Parle PNBHFL Branch to Shri Sharada Sahakari Bank (SSSB) Tilak Road Branch, Pune to clear the loan availed by the sellers against the security of the said property, with the agreement that the title deeds of the said property be handed to PNBHFL. Accordingly, on[protected], PNBHFL sent a letter calling for original documents which was duly acknowledged by SSSB. However after a lapse of more than 1 month we were informed by PNBHFL that it did not get back the documents. SSSB made a phone call to the PNBHFL executive Anil Agraval and stated that they are handing over the docs to Matani to which he ignored. On enquiry it was found that PNBHFL failed to collect original documents and Matani’s took custody of the same, resulting in the sellers demanding an additional amount of Rs.5 to 10 lac over and above the agreed sale price as per the agreement. Thereupon, we filed civil and criminal cases in the Honb’le Court of Pune against the sellers. During the intervening period, while the investigation on the criminal case was going on, seller Mr. Rajesh Matani died and still Mrs. Matani is continuing to seek extra money from me and the civil case is in continuation. In the meanwhile we have been regularly paying the EMIs (Rs.25125 pm) for the past two years on the assurance from the Branch, Mr. Sushant Kumar & Mr. Sanjay Vaishy, that they would take all steps to collect the original title deeds from the sellers and settle the matter. Based on their advice, we have continued to honour the repayment commitments till date in spite of additional financial burden on us. Presently there are only 3 or 4 EMIs outstanding. It is pertinent to highlight here that it is the paramount responsibility of PNBHFL to collect the documents from SSSB/seller. However, during these two years, there was lukewarm response from the Branch and its officials as they failed miserably. As a result, the sellers started demanding extra money from us resulting in avoidable litigations in the form of criminal & civil cases. Adding to our woes, last month the Branch and the said officials misguided us saying that they would threaten Mrs Janaki Matani by issuing a Notice under SARFAESI Act for auction sale of the property so that she would come forward to handover the original documents and settle the matter. Believing in their averments, we agreed and accordingly notices were issued by Branch in “Free Press Journal” and “E-Samna” on 17th Nov 2014, depicting us as delinquent borrowers / defaulters sullying our image and damaging our financial credentials. However yesterday[protected] when my brother Ajay Kumar Ayengar contacted to know about the developments, we were informed by Mr.Sanjay Vaishy that they would go ahead with the auction, conclude the sale for Rs.50lac and distribute the proceeds in the following manner. PNBHFL (Home Loan) - Rs.26 lac Mrs. Matani (Seller) - Rs.14 lac (Rs.12lac-Overdue & Rs.2 lac- Interest). Ourselves - Rs.10 lac (Surplus sale proceeds) This came as a rude shock, as the reason stated for the auction notice was to merely threaten the sellers and collect the original title deeds and at no point of time there was discussion about actual sale of the property nor was it our intention to dispose the property through auction. Going by the approach and actions of the PNBHFL and the said officials, under the prevailing circumstances, we have strong doubts that the Branch and Mr.Sanjay Vaishy are colluding with the Seller Mrs. Janaki Matani and clandestinely adopt the auction route to dispose the property at a whimsical price and pay the amount to the seller to our detriment as well. In this connection we bring the following facts to your notice. 1) Housing Loan transaction is between the PNBHFL and ourselves and the seller was /is not a party at all, except to the extent that she is entitled to the balance sale consideration only. Such being the case, the question of payment of interest to the seller does not arise at all. 2) Any payment over and above the sale consideration is purely the prerogative of the buyers i.e. ourselves and PNBHFL or its officials have no locus-standee or authority to decide or make extraneous payment outside the agreement without our express consent. Hence we question the very intention and haste of Mr.Sanjay Vaishy in deciding to go ahead with the auction, unilaterally decide the sale price and appropriate the same in the above manner in utter breach of trust. 3) The primary issue still remains that it is the responsibility of PNBHFL to take all diligent steps to get the originals documents from SSSB, which they miserably failed to do. In order to extricate from the tangle created by their delay and inaction and come-out of the problem caused by their own negligence and omissions PNBHFL and Mr.Sanjay Vaishy are trying this conniving route of auction sale in the process trying to unduly benefit the seller throwing all norms and ethics to the wind. In this vitiated scenario, we are rather constrained to lodge this complain against Ville Parle Mumbai Branch of PNBHFL and its officials Mr.Sanjay Vaishy & Mr.Sushant Kumar, seeking your immediate intervention to stall the auction proceedings and instruct the concerned to collect the original title deeds and enable us to take possession of the flat without loss of time and money. Would seek and immediate and strict against Mr.Sanjay Vaishy for his misguidance and cheat and joining hands with the seller Matani, who is pusuing criminal offence under section 420. At this juncture we place on record that we never refused to pay the EMIs during the entire period of two years, even though we could not take possession of the flat in addition to paying rent for alternate accommodation, due to the failure of PNBHFL and its officials in collecting original documents. We reiterate that we are willing and ready to honour our commitments for the remaining EMIs, once we get an assurance from the PNBHFL that appropriate and concrete steps would be taken immediately to collect the documents and resolve the dispute. This complaint is without prejudice to legitimate rights and remedies available to us under the civil and criminal cases filed in the Honb’le Court in Pune. Yours sincerely Arvind Ayengar