We have a LAP (Loan against property) loan with ICICI Bank. The loan is on my name (primary), with my brother and father as co-signers.
I am not sure how the ICICI bank sanctioned the loan on my name as primary, when the property is on my brothers name. Is this still acceptable that the property is not in my name but I am the primary borrower? It reflects in my CIBIL as well.
The issue is that my brother has stopped paying the EMI and ICICI bank is pestering me for payment.
Please guide me and let me know if anything can be done in this scenario.