Second notice..

G. ARAVINTHAN (Querist) 12 December 2012 This query is : Resolved
X borrowed from a nationalized bank for the purpose of agriculture.

Secured assets were his agricultural lands and dwelling house.

though payments made, it was declared as NPA and 13(2) notice has been issued under SARFAESI Act.

Writ filed before High Court. Stay granted as it was agricultural loan.

Now bank issued second notice u/s 13(2) for house property alone.
What is the remedy?

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ajay sethi (Expert) 12 December 2012
make an offer to bank for OTS . reach an amicable settlement with bank

Raj Kumar Makkad (Expert) 12 December 2012
If you have grouse against the calculation of the banker, challenge the subsequent notice of the banker in the same pending matter otherwise better to amicably settle the entire matter by restructuring the loan schedule as per your paying capacity and agreement of the bank over the same.

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