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I have taken a bank loan on a property. We followed the proper procedure, with no bribes or anything inappropriate. Initially, the bank told us there were some legal issues with the property, but they reported the same day that everything was clear. After completing the registry, I learned that the property is under a booking restriction. I can't file a case against the seller because the property will be sealed until the case is resolved, and I won’t have a place to stay. If I receive the property with a red stamp, can I file a case against the bank for negligence, loss, and false information provided for profit? Can I also file a case for mental depression and stress caused by this situation? What will happen if I start the case, and how long will it take?
You can file a legal case against the bank for negligence, misrepresentation, and loss of property. The bank might be liable for failing to disclose the booking status of the property. Regarding mental stress, you can claim damages. However, litigation can take several months to years, depending on the complexity of the case. For further legal assistance contact us on our helpline number.