Japthi procedure

Pushpalatha H (Querist) 18 November 2024 This query is : Resolved
We got japthi notice for auction of our property from the arbritration department of a co- operative Bank. We would like to know the japthi procedure. Can we get final notice from the sale officer? Can we get otpobtain stay order for the auction?

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If you've received a Japthi notice for property auction from a cooperative bank's arbitration department, it's crucial to understand the procedure. You may be able to obtain a stay order against the auction by approaching the appellate authority or High Court with valid reasons. It's advisable to consult an advocate to respond to the notice, explore options like a one-time settlement with the bank, or negotiate concessions to resolve the issue amicably.

T. Kalaiselvan, Advocate (Expert) 18 November 2024
If you have received a notice under sarfaesi act you may have to give a reply either to make the payment or challenging their notice me.
You may contact the bank manager immediately and arrange for one time settlement or negotiate with the settlement with some concession.

sanjeev murthy desai (Expert) 19 November 2024
Approach the appellate authority or High court for stay of attachment notice with sufficient reasons.

kavksatyanarayana (Expert) 23 November 2024
You shall respond to the auction notice by consulting an advocate and settle the issue amicably for one settlement.

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