An 80-year-old woman, her daughter, and granddaughter were forced out of their house after authorities of Kerala Bank sealed and confiscated their house and property for defaulting on loan payment at Kottayam Malabar at Koothuparamba in Kannur on Monday.
Suhara, her daughter, a Plus Two student, and the aged mother staged a protest in front of their house following the bank’s action. Ms. Suhara said they had taken a housing loan of ₹10 lakh in 2012 and there was delay in repayment due to a few problems.
Ms. Suhara claimed she had already repaid ₹4.30 lakh. The bank was demanding payment of ₹19 lakh with interest. The bank did not provide time despite them assuring to repay the loan after selling the house, she said.
The bank authorities came with a court order and sealed the house when only her mother was at home on Monday. She along with the family had to stay outside the house till the early hours on Tuesday, Ms. Suhara said. Later, the police took them to a neighbour’s house.
Meanwhile, the bank authorities said they had issued notice several times regarding the loan repayment. The bank went ahead with the confiscation process as it did not receive any reply. Sufficient time was given to repay the money, the officials said.
