Bank action property and drt order
naresh chamarthy
(Querist) 31 December 2014
This query is : Resolved
respected sir iam naresh from hyderabad.iam planing to purchase open land from bank action.i varified all property related papers.in that DRTgiven some order .in that order is below
in such circumsances.it is no prudent and safe to intervene with the proceedings of the respeondent bank and shall theaction proceedings in pursuance ifthe action cum sale notice dated therefore the respondent bank is all liberty to proced with the action of the sehedule proprties as per schedule but in accordance with law subject to the result of SA
please give me advice.after sale certifacte .original owner have any right on that property.bank is ready to give sale certificate.
P. Venu
(Expert) 01 January 2015
DRT could be challenged in appeal and the matter could go up to Supreme Court.
ajay sethi
(Expert) 01 January 2015
you can purchase property in auction . sale has to be confirmed by DRT
Isaac Gabriel
(Expert) 01 January 2015
You are at liberty to settle before the sale by repaying the debt.
K.K.Ganguly
(Expert) 01 January 2015
1. You can purchase the said property,
2. The said sale also might have to be cancelled by the Bank if so ordered by the DRT while disposing of the SARFAESI Application (S.A.) filed by the borrower in his favour.
Rajendra K Goyal
(Expert) 02 January 2015
You can purchase the property in auction, sale has to be confirmed from DRT.
malipeddi jaggarao
(Expert) 07 January 2015
"but in accordance with law subject to the result of SA" - DRT order itself speaks the bank can put the property for sale under SARFAESI Act subject to ....
You can purchase the property, but it would be subject to the result of pending appeal.
