Friday, October 4, 2013

He is planning to sue a Commercial Bank (for force sale his house)....

Mutton-seller A Muthukrishnan is planning to sue a commercial bank for supposedly high-handed selling of his house to a moneylender.
He also claimed that the moneylender had hired thugs to attack him last year when he refused to transfer ownership of the house to the moneylender as he had failed to settle a RM50,000 personal loan that he took in 2006, causing him to lose a thumb.
Muthukishnan bought a unit of double-storey terrace house in Selayang Baru, Batu Caves in 1997 with a housing loan secured from the bank where he paid a monthly installment of RM1,000.
However, he started defaulting on the monthly repayment and the bank sold the property to moneylender.
“In 2008, I was shocked when the bank informed me that a third party has requested for the property redemption sum and later bought the house,” he said, adding that he had approached the bank on the matter and was advised to lodge a police report.
Muthukrishnan also claimed that despite the police report, there was no action.
“I have also made at least 40 complaints to Bank Negara, the police, Tribunal for Consumer Claims, Bar Council, Malaysia Licensed Money Lenders Association and several ministries in hope they are able to help me to resolve this matter,” he said.
When asked if the bank had offered assistance, Muthukrishnan claimed that the bank had offered money on several occasions but declined to reveal the amount.
“With the bank offering me money, it is an indication that something is wrong,” he said, adding that he wanted the house instead which was valued at about RM700,000.
When contacted, a representative of Standard Chartered Bank said that the bank was in communications with Muthukrishan to help him resolve his concerns.
“Standard Chartered cannot comment on any information relating to our customers. As you may know, we are required by both international and local laws and regulations to maintain strict confidentiality about customer information.
“As an international bank, we adhere to these requirements in all our markets for all our customers.
“What we can tell you is that we have been in communications with Mr Muthukrishan to help him resolve his concerns,” said the representative.