vijaya 27 June 2018

Property attachment over property & SARFAESI Act

hai sir
recently i got a attachment on immovable property over my oponent.but same property is got auctioned using SARFAESI Act by bank .The buyer paid 50 parcent only and yet pay rest and still no registration has happened . what about my debt does my attachment does have any effect

Reply Follow

9 Replies

R.Ramachandran (Advocate) 27 June 2018

You personally handled the case or through a Lawyer?

vijaya 27 June 2018

semi initially i did later joined up with lawyer

R.Ramachandran (Advocate) 27 June 2018

What is the lawyer's view?

vijaya 27 June 2018

he is assuring me .but i am hell afraid

R.Ramachandran (Advocate) 27 June 2018

Are you an Advocate?

vijaya 27 June 2018

if u have answer please tell me no i am not

R.Ramachandran (Advocate) 27 June 2018

When the Bank has the first charge over the property, and the said property having been auctioned, how can you still entertain hope to recover the money on the basis of the property in question?

vijaya 27 June 2018

auctioned.only no registration has been done still buyer need.to pay rest of amount for completion.

R.Ramachandran (Advocate) 27 June 2018

In any case, being the first charge holder over the property, the bank has auctioned.

Assume, if the buyer pays the rest of the amount, what will be your position. Even otherwise, when the Bank has first charge, what is your position. Only after satisfying its dues, if there any surplus, then you can be thought of. Otherwise?

1 Like