The Namakkal District Consumer Disputes Redressal Commission (DCDRC) granted a stay to a house auction by a bank on Thursday.
D. Sethurajan (49), a resident of Alagu Nagar in Namakkal, bought a housing loan from a nationalised bank in 2013 and was regularly paying the EMIs until the onset of COVID-19, when he struggled to pay them on time. Following this, in August 2023, the bank negotiated with Sethurajan and instructed him to pay ₹65 lakh as a one-time settlement, and he paid ₹60 lakh. On Wednesday, he went to the bank to pay the remaining amount, but the bank officials said his house would be auctioned on Friday (February 9) for non-payment of ₹5 lakh.
Sethurajan filed a case on Thursday at Namakkal DCDRC. Hearing the case as an urgent matter, DCDRC Commissioner V. Ramaraj granted a stay for the house auction. The Commissioner instructed the bank officials and the petitioner to appear for mediation on February 21.
