ENCROACHMENT – RAJA KALUVE – LAKES – LENDERS ESCAPED


The owners who have bought the apartments and sites in and around raja kaluve and the lakes have borrowed money from BANKS.  In many cases, the banks have evaluated the projects and in some cases had issued pre approval to the projects which are under investigation and demolition.

Majority of the buyers are borrowers and if the banks had conducted due diligent enquiry, it would not be possible, legally, to the banks to finance illegal buildings with violation and deviation.  But, they overlooked and DUG THE GRAVE FOR THE BUYERS OF THE PROPERTIES.

None of the affected owners have sued or instituted legal proceedings against the banks and officials. Why?

The NOTORIOUS LENDER has obtained an AFFIDAVIT from the borrower, which contains  a declaration made by the borrower that the property titles are good and it has been constructed as per the sanctioned plan.  In the event, if there is any deviation or violation from the sanctioned building plan, the BANK RESERVES THE RIGHT TO RECALL THE LOAN and initiate appropriate proceedings against the borrower.

The borrower/owner, who has signed the loan agreement without even reading one word thinking that the SANCTION OF BANK LOAN means, perfect title.  IT IS NOT SO.

75% of the apartments, houses and sites have not been constructed or formed as per the law and as per the sanctioned plan, but HOME LOANS have been sanctioned by the BANKS.  How?

Banks have also engaged in TAX EVASION AND ARE ABETTING TAX EVASION, which is under investigation.

 

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