Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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Bank Loan

Querist : Anonymous (Querist) 26 January 2011 This query is : Resolved 
Bank posted the possession notice on my wall agaist home loan, earlier i replied the 13(2) notice, now what i can do as i need 6 months time to make payment of the dues.
Raj Kumar Makkad (Expert) 26 January 2011
Negotiate with bank officials and obtain required time or move to DRT.
Devajyoti Barman (Expert) 26 January 2011
Yes you have to either settle with the Bank or challenge the attachment notice u/s 17 of the SARFAECI Act before the DRT.
Querist : Anonymous (Querist) 26 January 2011
if i file the case in DRT, will the bank stop further proceeding.
Amit Minocha (Expert) 27 January 2011
if you go before DRT in present situation you may not have bright chances till certain amount is deposited by you.
A. A. JOSE (Expert) 27 January 2011
While DRT option is open to you, it is felt advisable for your to directly interact with the Bank for an amicable settlement please.
malipeddi jaggarao (Expert) 27 January 2011
Bank is proceeding against you as per provisions of SARFAESI Act. Unless you have a strong case your chances are very bleak if you approach DRT against Bank. If you can deposit considerable amount with the Bank and request them representing your difficulties they may give some more time and defer the further action. That all depends whether bank considers you willful defaulter or not basing on the previous record and promises you made earlier and adherence to those promises.
malipeddi jaggarao (Expert) 27 January 2011
Bank is proceeding against you as per provisions of SARFAESI Act. Unless you have a strong case your chances are very bleak if you approach DRT against Bank. If you can deposit considerable amount with the Bank and request them representing your difficulties they may give some more time and defer the further action. That all depends whether bank considers you willful defaulter or not basing on the previous record and promises you made earlier and adherence to those promises.


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