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Bank loan

(Querist) 06 September 2013 This query is : Resolved 
Dear experts

i would like to know whether bank can take possession of house (in which borrower stays) kept as collateral with bank under sarfaesi act as borrower has received the notice to pay the dues they had even mentioned about DRT in the notice.

i discussed the matter with someone and got to know that bank cannot take the possession of house of the borrower where he stays if he has another property with him.

how to deal with the situation kindly advise

Thanks
Report Abuse
Rajendra K Goyal (Expert) 06 September 2013
Repeated query.
R.K Nanda (Expert) 06 September 2013
repeated query.
Sudhir Kumar, Advocate (Expert) 07 September 2013
vague query
Sudhir Kumar, Advocate (Expert) 07 September 2013
repeated at http://www.lawyersclubindia.com/experts/re-sarfaesi-possession-419591.asp#.UitBGH_Qzmk
Sudhir Kumar, Advocate (Expert) 07 September 2013
also repeated at http://www.lawyersclubindia.com/experts/re-bank-loan-421031.asp#.UitBDn_Qzmk

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