M/S S D Properties/ Real Estate
M/S S D Properties Sold me a Flat on a litigated Land

Dear Sir,

I booked a flat in the year 2006 through a developer, M/S S D Properties, 2B, Chandra Mondal Lane, Kolkata. The developer had an agreement with the owner of the land to build and sale all the flats. The developer has a partnership of two persons, Sri Debabrata Sarkar and Sri Shambhunath Nag. In Jan owner died left with two sons and a daughter. I registered the flat in July with both developer and owners. In Feb, all of a sudden, Union Bank of India, Kolkata, came with a receiver from DRT court and tried to seal all the flats against a court order in the name of late owner. Some of us resisted and they could not seal. We, flat owners of nine flats, had a meeting with developers and legal owners and came to know that the late owner was co-lateral guarantor for a company (owner of the co. is missing) against land (mortgaged in the bank). The total amount was Rs. 89 lacks against principle amount of Rs. 45 lacks. We requested owners and developers to repay the amount and get our flats free of litigation. But they denied to do anything. We came to know that both the developers and owners knew it. Two of the owners were staying in that locality and they even did not know about the fraud.

They appealed to DRT to buy time only. We also consulted Union bank, they suggested opening no lien account by flat owners and depositing minimum of Rs. 10 Lacks. But we consulted our advocate and he suggested not to pay any amount since we have purchased these flats in good faith. The bank may come at any time and take possesion of our property. They will auction our property. I have already spent Rs. 26 lacks for my flat and I am at a loss. Please suggest me the course of action at the earliest.

Regards.

Arup Kumar Tripathi.

Company: M/S S D Properties/ Real Estate
Country: India

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