Sarfaesi act 2002
Anil
(Querist) 29 November 2015
This query is : Resolved
Hello, I have taken industrial loan from State Bank of India under CGTMSE scheme and my account got NPA and they issued notice under sarfaesi act 2002 on dtd 16/12/2014. Now my question is shall we get they stay from court for next procedings.... and one more thing already two case filed .
1. consumer foarm against power corporation electrical bill.
2. in JMFC court against our firm ( mtrology act)
what about these cases.. if bank take the property for recovery?
SAINATH DEVALLA
(Expert) 30 November 2015
Do U know how U get a loan under CGTMSE Scheme/elaborate.
U R a defaulter and U desire to have a safe passage from the forum.Ridiculous?
Rajendra K Goyal
(Expert) 01 December 2015
All the cases are separate for separate cause of action.
CGTSME would give relief to Bank and not you till the recovery can be done from your assets.
On what grounds you want to seek relief under sarfaesi act.
SAINATH DEVALLA
(Expert) 01 December 2015
U cannot escape the liability,U R a defaulter and have to face the consequences.Once the account has been declared NPA it will be referred to DRT.Previously it used to take years to conclude in DRT but not now.
Anil
(Querist) 01 December 2015
I am not looking any escape idea from you and liability. I already paid some amount but still not regularise account. I just want to get only three months time to regularise account. The bankers not ready to give time. Is there any way to get ti
me?
One more thing I am not here to make a safe passage and misuse this forum.
SAINATH DEVALLA
(Expert) 02 December 2015
U plead with the bank only and nothing else to add.
