Sarfaesi act-undivided property
Saikat Sen
(Querist) 06 February 2013
This query is : Resolved
Dear Sir/Madam,
Provash Karmakar, one of our borrower availing a cash credit loan of Rs.400000/-.The loan is covered by collateral building security valued Rs. 596592/- as per the sanction letter accepted by the borrower. Now the CC loan turns into Npa. But from the loan security documents(viz. deeds,record of right) the mortgage building contains 02 decimal area out of 18 decimal areas of the specific plot no & the the other co sharers present in this plot. So it becomes difficult for us to identify area of 02 decimal within 18 decimal plot.
Is it possible for us to initiate a Sarfasei action against the borrower in this situation?Pls suggest.
Thanks & Regards,
Saikat Sen,
Sr Manager & Head,
Arambagh Agri business cluster
Rural & Inclusive banking
Axis Bank
R.K Nanda
(Expert) 06 February 2013
1.first get a valuation report of 02 decimal
part of borrower from authorised and
registered architect and valuer.
2.then go for sarfaesi action against him.
