Loan against fake sale deed

[valuervijay]

Dear Sir,

In many cases banks are doing FIR against valuers. In all most all cases plots are verified with the help of map & it was found that identification of plot was right, only thing was the sale deed was fake i.e. real owner was another person. In a typical case a valuation was done by a valuer for 6.0 Kattha of land in the presence of branch manager, Local Amin & so called owner. The total land of 6.0 Kattha was from two sale deeds 3.5 Kattha + 2.5 Kattha. The valuer has verified the plot with cadestral map,taken measurements,Compared with L.S.R. and then given the valuation report with the photograph of borrowrer standing on plot.This A/C became N.P.A. only after three months. The bank now carried enquiry after 2 yrs and findings were as follows

1. Name & address of borrower,gurrenter was fake, title deed of 3.5 kattha was registerd but 2.5 kattha was not registered.The sale deed which was of 3.5 Kattha was Not original, it was colored xerox.

2.The actual name of borrower is not known, only he used the name as it was mentioned in sale deed, also voter I- Card, Pan Card & other papers was fake. the bank lodged FIR against 1. Borrower,2. Gurrenter ,3. Panel advocate, 4. Valuer & 5. Chartered accountant

Now my question is wether the name of valuer which in this FIR is justified from any angle. what was duty and legal responsibility of valuer. why the name of branch manager was not given in FIR.

with regard

 

 

[anildhope]

The branch manager also submits his report about the property, even his own valuation. But when the things go wrong, the responsibilties are transferred to valuers etc. The advocate authenticate sale deed documents, but in case of any mistake, he can always take the case to court & prolong it, but a valuer has to face lawers fee, police fee as well & all the future consequences. This is all we are facing because we are not united. It is really a difficult task to believe a saledeed document or not. Same thing happens, when we have to identify a plot on a barron huge land. Therefore first thing we all should be united. We must charge a legitimate fee with a minimum fee of Rs 5000/-. Our association should coordinate with All India Bankers Association to sort such problems. But it seems no body is interested.

Regards

 

[djagan1949]

 Getting a fee of Rs.500/- or Rs.5000/- for a assignment does not mitigate our carrer risks.EVEN WHEN DOCUMENTS ARE GENUINE,PROPER IDENTITY OF CUSTOMER ALSO ESTABLISHED AND  NO FAULT ON MANAGER OR LAWYER a wilful default and a/c become NPA by an accomplice of the customer claiming with some bogus / articulated records that he has  enjoyment rights and has physical possession of the property even prior to loan sanction and prevent taking over of bank.then also we can be booked by bank how this was not brougft to their knowledge during valuation. The best way of sorting out this type of problem is we should ask the bank to view us as their extended arm of official machnery. Valuers forum can fight a case in courts and get a model judjement on role of valuers for the valuers feternity benifit .

Bank is doing a big business as lenders in which we play a small role as a sercice providers. The proposition here is mountain to mole . When they enjoy the fruits of a cumulative profits out of our services they should not single out one inadvertant mistake and punish us . 

[valuervijay]

[ [/quote Dear sir,

Thanks for yor responce , recently we, the valuers of bihar,obtained the declaration from many banks that there is no any responsibility of valuer if any deed is found fake. It is the duty of legal advisor. Now we are in process of getting guideline by RBI in this regard, we hope it wiil be with us shortly.

Now legaly we are little strong,but need very strong support from all our colleagues. Please contact us and send your precious advice/queries. we are ready to support at any step. the copy of declration of banks may be obtained by us.

Thanks.

[suchdevs]

[quote="valuervijay"]

recently we, the valuers of bihar,obtained the declaration from many banks that there is no any responsibility of valuer if any deed is found fake. It is the duty of legal advisor

[/quote]

dear vijay ji,

can you please share the copy of this declaration on this forum...?

your pro-active stand is highly appreciated

best regards

[valuervijay]

[quote="suchdevs"]

[quote="valuervijay"]

recently we, the valuers of bihar,obtained the declaration from many banks that there is no any responsibility of valuer if any deed is found fake. It is the duty of legal advisor

[/quote]

Dear sir,

we will happly provide the copies, please mail us your adress at valuer.vijay @ gmail.com.

[ARABINDA]

Dear sir,

Many many thanks for your findings.We should not penalised for the mistake of the legal advisior.It is the duty of the manager to find the perfect lateral means the borrower.Then the question of co-lateral comes.We the person concerned with the value of property.If legal part is wrong what can we do?

Regards

 

[/quote]

[shahconsultant]

dear Valuervijay,

i have tried to send mail to your givrn address but it failed. so please send me these copies on - shahconsultant@yahoo.com , it seems to be very important for all valuers to keep these papers with them in record always.

thanking you,

er. himanshu g. shah

 [quote="valuervijay"]

 Dear sir,

we will happly provide the copies, please mail us your adress at valuer.vijay @ gmail.com.

[/quote]

[djagan1949]

Dear Members,

Such a declaration by one bank in one State will not help the entire valuers community spread over whole of Country. We should represent to IBA and ask them to issue circular to all banks prohibiting them giving criminal complaint over valuers on non technical grounds. IBA should explicitely make valuers immune to all complaints other than value related disputes.

Regards

djagan1949

[suchdevs]

dear jagan ji

i think it is a very valid suggestion, on which our bodies must act. i trust you meant making representation to IBA...

rgds, nilesh

[VikramBhatt]

 Dear Vijayji

Instead of sending the copies to individual who requests you to send it to them on your e-mail, If you place it in forum then it will beneficial and easier to all the members

Vikram Bhatt