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Sarfaesi and drt

(Querist) 16 October 2018 This query is : Open 
Sir,
The action under SARFAESI by the bank, against the guarantor is time-barred due to 12 years limitation? What is this time barred means -
a) An action under the SARFAESI is time-barred. or
b) The realization from the mortgaged property is time-barred.
c) What about the DRT proceeding how they recover after issuance recovery certificate?
d) Whether Bank has to return our property papers, if yes, how can we proceed?
e) If no, then what is the purpose of limitation act or the limit of 12 years?

Ref:W.P. No. 16511 (W) of 2016
IN THE HIGH COURT AT CALCUTTA
Constitutional Writ Jurisdiction
Appellate Side
Dr. Dipankar Chakraborty
Vs.
Allahabad Bank & Ors.
KISHAN DUTT KALASKAR (Expert) 17 October 2018
Dear Sir,
My answers are as follows:
The action under SARFAESI by the bank, against the guarantor is time-barred due to 12 years limitation?
Ans: Any decree have validity period of 12 years after that it cannot be executed and term as time barred.
What is this time barred means - a) An action under the SARFAESI is time-barred. Ans: Any decree have validity period of 12 years after that it cannot be executed and term as time barred.
b) The realization from the mortgaged property is time-barred.
Ans: The Bank may realize its dues by filing a suit before DRT within time limit.
c) What about the DRT proceeding how they recover after issuance recovery certificate?
Ans: It is working under Special Act and adopt summary procedure.
d) Whether Bank has to return our property papers, if yes, how can we proceed?
Ans: The papers will be submitted before the Court and you have to file a petition to give a direction to the bankers to return the papers.
e) If no, then what is the purpose of limitation act or the limit of 12 years?
Ans: Get issue a legal notice calling upon the bankers to return papers.

Please mark “LIKE” if satisfied by my answer.
Isaac Gabriel (Expert) 20 October 2018
You haven't mentioned either you are debtor or guarantor.In any case regaining the property recquires cumbursome procedures. Cancellation of documents, recoveying,collection of dues ctc., need to be completed if at all the property is to be returned.Venturing to get it back by shotcut means is impracticable.


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