Drt surfaesi act related quarry

Priti (Querist) 03 March 2020 This query is : Resolved
Dear Experts
I took a loan for a business which got NPA. Bank auctioned my property under SARFAESI ACT. Bank auctioned property on symbolic possession basis. I still have physical possession with me. Bank published auction in two newspapers, sent sale notice, affixed symbolic possession notice. but they did not sent 13 (4) notice by registered post. Now court has asked bank to show compliance. My question is.....is it mandatory under SURFAESI Act to full fill all three conditions or one mode of serving notice is sufficient. i.e...1 Publication in two newspaper, 2. personal/registred delivery of 13(2) and 13 (4) 3. affixation of notice. pls reply.
regards

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A business loan turned NPA led to a property auction under the SARFAESI Act, but the borrower still has physical possession. The key question is whether the bank must fulfil all three notice methods (newspaper publication, registered post, and affixation) or if one is sufficient for legal compliance. Experts generally agree that any one bonafide mode of service, such as newspaper publication, can be considered sufficient compliance, though adherence to legal procedures is essential.

Raj Kumar Makkad (Expert) 03 March 2020
Notice by either of the three ways is sufficient and the publication in the given case shall be treated as sufficient compliance of the provision.

Priti (Querist) 04 March 2020
Thank you Raj kumar sir
I would appreciate if any other expert would also comment on this.

Raj Kumar Makkad (Expert) 04 March 2020
You are always welcome Ms. Preeti.

KISHAN DUTT KALASKAR (Expert) 05 March 2020
Dear Sir,
Any of the mode of the service if it is bonafide then it may be taken as proper service.

Priti (Querist) 05 March 2020
Thank you sir for your valuable suggestion

Raj Kumar Makkad (Expert) 05 March 2020
You are always welcome.

Rajendra K Goyal (Expert) 16 March 2020
Agree with the experts, any one mode as mentioned is sufficient.

T. Kalaiselvan, Advocate (Expert) 21 March 2020
The procedures to be followe as per provisions of law in this regard is essential without which the court may not accept the stand taken by bank in this regard.

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