Sarfaesi
vishal kumar
(Querist) 23 June 2012
This query is : Resolved
Bank issued demand notice under section 13(2) against two mortgaged properties, but took the possesison under section 13(4) of SARFAESI Act of one property only. Borrower and Guarantor sought relief in SARFAESI Appeal for of declaration and restraining the Bank to take further actions against both the properties stating one property to be an agriculture land of which the Bank have not taken possession. Moreover the Borrower and the Guarantors are challeging the outstanding dues. Whether the Appellant can challenge / seek relief under SARFAESI Appeal against the prperty of which the Bank have not taken possession and whether the Borrower can challege the outstanding dues under SARFAESI Appeal?
K.K.Ganguly
(Expert) 26 June 2012
The question is not clear. You said that the borrower & guarantor has already sought relief as per SARFAESI Act.
The Appellant/ can certainly challenge/seek relief under SARFAESI Act.
Here, the Bank is smart enough not to issue possession notice u/s 13(4) for the agricultural land since SARFAESI Act is not applicable on agricultural land. You can not appeal for any relief for the agricultural land since the notice u/s13(4) against it has not been issued at all which is mandatory for filing any application u/s17 of SARFAESI Act before DRT.
You can certainly challenge the outstanding shown by the Bank for the non-agricultural property.
K.K.Ganguly
(Expert) 26 June 2012
The question is not clear. You said that the borrower & guarantor has already sought relief as per SARFAESI Act.
The Appellant/ can certainly challenge/seek relief under SARFAESI Act.
Here, the Bank is smart enough not to issue possession notice u/s 13(4) for the agricultural land since SARFAESI Act is not applicable on agricultural land. You can not appeal for any relief for the agricultural land since the notice u/s13(4) against it has not been issued at all which is mandatory for filing any application u/s17 of SARFAESI Act before DRT.
You can certainly challenge the outstanding shown by the Bank for the non-agricultural property.
