E-auction related queries

Respected sir/madam
Greetings! I am Ramesh.R from Tiruppur and I have participated mega E-auction which was held on 08.03.17 conducted by SBI. I am the successful bidder and payed 25% of the bid amount on the same day and got my sales confirmation certificate and I had time of 15 days to pay remaining 75%. borrower payed 60% of the loan amount on 14.08.17 and I have paid rest of the amount(75%) on 15.08.17 though I have 15 days time to pay the remaining 75% of amount I have paid by 7th day and got my sales certificate, borrower paid the remaining 40% of amount through other bank via Demand Draft.
I have arranged everything for Registration but borrower gone to DRT and everything was stopped still case on the court.
I have lot of questions on my mind whether shall I wait or withdraw the amount, Is it worth of waiting, will judgement favours me Etc.,
Hence I request you to kindly guide me what I have to do thank you.

warm regards
Retired employee.

This is not a worth case to fight with DRT.  I know cases pending before DRT for over 12 years.

As a common man, unless dragged into litigation, always avoid and keep distance from litigation.


Ok thanks you so its difficult to win this case right , thanks again for the reply

Implementation of the SARFAESI Act is still in a flux.




Your are not logged in . Please login to post replies

Click here to Login / Register  


Search Forum:


  LAWyersclubindia Menu