Karnataka HC quashes SBI case against homebuyer over EMI default
In short
The Karnataka High Court has dismissed criminal charges against a homebuyer named Bari. He had stopped repaying EMIs on a Rs 39.92 lakh home loan after finding out the builder sold his booked flat to someone else.
This matters because the court said the bank handled the dispute badly by filing criminal charges. The source does not say whether Bari gets his flat or money back.
What the reporting says
The Karnataka High Court dismissed criminal charges against homebuyer Bari after he stopped paying EMIs on a Rs 39.92 lakh home loan when he learned the builder had sold his booked flat to another buyer. The publisher summary says State Bank of India accused him of misusing loan funds, but the court found the bank mishandled the matter by pursuing criminal charges. The final status of the flat booking and the money remains unclear.
Why it matters
The Karnataka High Court quashed criminal charges against Bari after he stopped paying EMIs on a Rs 39.92 lakh home loan when the builder sold the booked flat to another buyer. The summary says State Bank of India alleged misuse of loan funds, but the court rejected the criminal route and blamed the bank’s handling. The outcome of the flat booking and the investment is still unknown.