The Economic Times

Homebuyer stops paying EMIs on Rs 39.92 lakh home loan after builder sells his flat to another buyer; Karnataka HC quashes banks criminal case

The Karnataka High Court has dismissed the criminal charges against homebuyer Mr. Bari, who stopped repaying his loan EMIs after learning that the builder had sold his booked flat to another buyer. The State Bank of India accused Bari of misusing the loan funds, but the court determined that the bank mishandled the situation by pursuing criminal charges. The fate of Bari's initial flat booking and investment remains unclear.