Can a secured creditor file a suit under Section 14 SARFAESI Act for possession of the property when an appeal is already pending under Section 17 Sarfaesi Act?
Shivam Shukla 16 November 2017
Can a secured creditor file a suit under Section 14 SARFAESI Act for possession of the property when an appeal is already pending under Section 17 Sarfaesi Act?
PRASAD AKS (PARTNER) 18 November 2017
BANK CONCEALIN FACTS BEFORE DIST. COLLECTOR TAKES ASSISTANCE OF POLICE TAKES POCESSION OF PROPERTY. IN DRT YOU NEVER RECEIVES ORDER FOR STAY REASON IS BANK ALWAYS ASKS TIME FOR COUNTER. REMEDY DISCUSS BANK OFFICIALS AND SETTLE ISSUE OUT OF COURT AS OTS ORELSE YOU ARE BECAME INSOLVENT OR DIED ONLY AFTER DRT PASSED ORDER. IN OA 796/02 DRT, VISAKAPATNAM PASSED ORDER DIFFENDENTS NO DUE TO BANK. BUT BANK FILED SUIT. SO PAY CLAIM AMOUNT + 6% SIMPLE INTEREST FROM DATE OF FILE ITS 2009 ORDER. IN 2017 PARTY SETTLES ISSUE AS OTS. APEX COURT SET ASIDE SUIT . SO LISION AND NOT WASTE MONEY FOR LAWYERS, TRAVELLIN, ZEROX. MY BEST ADVICE. .
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