Sarfaesi act 2002
deepak mohan sharma
(Querist) 13 January 2012
This query is : Resolved
under section 14 of SARFAESI Act 2002 we took D M order on 22.04.2011
in solan for taking possession of a prperty and have taken the
possession of the qua property on 29.12.2011, after a loang stay of
High Court on the order. Party is willfully defaulter and now he
applied to D M for taking out his house hold articals from the house,
D M Solan allowed for the same, now
1 can bank open his locks for giving house hold articals on the given
director of D M or the party have to take DRT permission ?
2 bank must take some money/recovry before any decision?
Raj Kumar Makkad
(Expert) 13 January 2012
1. You should obey the verdict of DRT and if pressurized, may put the order of DM before it and obtain its due permission prior to the opening of the doors of the house for the compliance of DM order.
2. It can be done but it is not a statutory rule.
prabhakar singh
(Expert) 14 January 2012
Section 14 of the Act under reference does not empower DM or Chief Metropolitan Magistrate to do any thing more than to take over the possession from the debtor and to hand over the same to the creditor where after DM ceases to have any jurisdiction to pass such kind of an order hence in my opinion the order of DM is without jurisdiction and the bank is legally not obliged to abide by that.
DEFENSE ADVOCATE.-firmaction@g
(Expert) 14 January 2012
DRT writ runs only on mortgaged properties that too under specific agreements, for all other properties of the borrower civil court jurisdiction only and only.
Advocate. Arunagiri
(Expert) 14 January 2012
The bank is entitled to take possession of the immovable property which is mortgaged only. They have to allow the mortgager to take his personal belongings.
So, the DM is having every power to issue directions to the Bank regarding the properties which are not mortgaged to the Bank.
The act of the Bank is illegal, they can not take possession along with the house hold articles.
The mortgager is having every right to prosecute the bank and can get compensation.
Shonee Kapoor
(Expert) 14 January 2012
Agreed with Ld. Arunagiri.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Devajyoti Barman
(Expert) 14 January 2012
Unless the order of DRT is set aside by the appellate tribunal, you have to abide by it.
