Securitisation act (sarfaesi act)
Srajadvo460
(Querist) 26 May 2012
This query is : Resolved
Can the Authorised Officer of the bank delegate his powers to send demand notice u/s. 13(2) of the act and submit replies u/s. 13(3)(a) through a lawyer? pls refer with caselaws will help
Nadeem Qureshi
(Expert) 26 May 2012
Dear SRAJ
yes, The bank and Authorized Officer of the bank has right to send the notice or reply through an advocate.
A notice given by a solicitor or an advocate on behalf of the secured creditor or the Authorised officer, as the case may be, in terms of section 13 (2) of SARFAESI ACT is quite conformity with the provision contained in the act and the rules framed thereunder.
you can see the below judgments:
1. (ARSIL v. Amit Venture Private Ltd. AIR 2007 Cal.49 DB
So long as the counsel is duly authorized and instructed by the bank, any notice issue by him/her on behalf of the bank u/s 13 (2) ould be valid and cannot be faulted on the ground that the bank itself ought to have issues a notice.
2. Mayur Coirs (P) Ltd. v. Development Credit Bank Ltd. 2008 (3) Bank.J.658 Del DB
Feel free to call
R.K Nanda
(Expert) 27 May 2012
No more to add.
Srajadvo460
(Querist) 28 May 2012
thank you Mr.Nadeem sir but what about section 13 (3) (a) where the bank has to reply for the objections raised pls enlighten me
Anirudh
(Expert) 28 May 2012
Dear Mr.Raj,
If you bring it to the notice of the Court that the client has replied to the notice u/s. 13(2) and had raised objection, and the bank had not replied, then the Court will accordingly deal with that situation.
Shonee Kapoor
(Expert) 29 May 2012
Nothing left to be added.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
