Drat

preet (Querist) 15 August 2012 This query is : Resolved
Hello sir......
My case in drt court is running.... But bank,in between the proceedings want to auction my property... I file IA in drt but DRT (Chandigarh) reject my IA..... What i do Now? Shall i move to drat? Is DRAT direct to the drt, to stop the auction till the final decision of DRT? If yes how much DRAT (Delhi) fee i have to bear?

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c.p.s. ramachary (Expert) 16 August 2012
What are the reasons for not obtaining stay order in DRT. If you wish to file appeal you have to deposit 50% or 25% of the amount claimed, as may be ordered by DRAT as a condition. There is no exception to it.First of all you have to check up at your end if you have merits to go in appeal.Litigation will cost you for no gain.It is better to approach your bank to settle the dues seeking some concessions.

Trivedi Advocate (Expert) 16 August 2012
Dear preet,

Mr. Ramachary sir, suggested fair advise to you, if you really want solution better approach to your bank and settle the dues, because only talk with your bank, you will get fast solution of your problem, otherwise Mr. ramachary well said, Litigation will cost you for no gain.

Regards,

K.K.Ganguly (Expert) 16 August 2012
When you had filed application before DRT after receiving notice u/s13(4) of SARFAESI ACT,2002, you should have file petition for a stay of further proceedings till the case is disposed of.

However, now the only remedy left before you is to approach DRAT wherein you shall have to keep at least 25% of the amount mentioned in the demand notice deposited.

M V Gupta (Expert) 16 August 2012
You have stated that your case is pending in the DRT. Is it under the SARFAESI Act? if not, you should have filed an appeal under the above Act to get the auction stayed.Pl check with ur Advocate. If it was under the above Act, then u have to approach the DRAT as advised by the Experts.