You shall have to take prior written permission from Bank before proceeding the sale procedure. If you have not taken prior wriiten permission then may be obtained in following format.
The Branch Manager,
(Name of the Bank & Branch with postal address)
Sub: Request to grant Permission for sale of mortgage peoperty.
Kind Attention: (You may write concerned Bank official's name)
We have availed loan of Rs.---------/- (Rupees in words) from your estemmed Bank in the year-------- for purchasing the property discribed as under.
(Give full discription of property as it appears in your sale deed)
We are regularly paying your stipulated instalments till date. We are in receipt of very good proposal/offer from one prospective buyer and the details of prospective buyer is as under.
In this recession period of business, we feel that it is better to dispose off the existing big property and to buy another smaller convinient office which would be more suiatble to us to accomodate our existing staff strengh.
We here by humbly request you to kindly grant/permit us to sale the above referred property. We assure you that we will deposit the proceeds in your outstanding account with due interest.
(Here Bank may ask/insist prospective buyer to deposit entire sale proceeds directly in your outstanding account and after recovering outstanding amount with interest, Bank will refund you the excess amount). Further you shall have to collect property released deed duly executed by Bank official at the office of respective sub-registrar.