Demand notice

Querist : Anonymous (Querist) 10 July 2021 This query is : Resolved
Can banks paste demand notice on the property. As far as I have heard only symbolic possession notice can be pasted. I have defaulted on my home loan and the bank is threatening to paste demand notice.

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SHIRISH PAWAR, 7738990900 (Expert) 10 July 2021
Hello,

There is no provision under the law about pasting the demand notice.

kavksatyanarayana (Expert) 10 July 2021
To me, did you receive the demand notice from the bank authorities? If the bank authorities sent the notice and if you avoid it, then they display a notice board regarding the property for default of repayment of the loan.

Dr J C Vashista (Expert) 12 July 2021
Yes, the bank (lender) can paste notice on the mortgaged property in terms of Section 13 of the SARFIASI Act, 2002

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