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Competition Commission of India - Amendments to the Combination Regulations

The Competition Commission of India (CCI) has amended the Combination Regulations with a view to further simplify the filing requirements and bring about greater certainty in the application of the Act and the Regulations. The provisions of the Co

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Experts Exchange

Sarfaesi-drt

Posted by jayaprakash

In DRT OA is disposed of in terms of compramise joint petition filed by the bank and the principal borrower ie D1 And D2,Recovery certificate as per the compramise decree is also issued at the request of the bank against D1 And D2 as principal borrower has defaulted the terms of the compramise.Iam the D9 (one of the guarantor)AND no recovery certificate is issued against me or against my mortigaged property.Inspite of this being the senario the bank has come and served me pocession notice under 13(4)saying that inspite of DRT judgement and recovery certificate(issued about 15 days back)they have rights to go ahed by SARFAESI route.My question is (1)can bank go ahed like this ignoring DRT judgement.(2)if no what are the options available to me to fight this senario.Can i file criminal procedings against the bank(3)if i go to DRT basing on 13(4)notice should i have to pay the court fees and will drt ask for any pre deposite(for the debtwhich is not determined against me atall it is determined against D1 AND D2)

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