Legality of Sarfaesi notice u/s 13(2) when 13(4) executed.
s.loganathan
(Querist) 10 April 2010
This query is : Resolved
Sarfaesi 13(2) issued & after 60 days possession u/s 13(4) taken. Unfortunately, Bank fails to make mandatory paper publication. No correspondence or notification issued in respect of defaulted paper publication.Limitation to challenge 13(4) possession not over, but Bank issues a fresh 13(2). By law, the Bank has taken possession of my property and has not restored it to me, but they issue another demand notice u/s 13(2) in view of the same property. No reference is made to the first notice in the second notice. When a statutory action is effected u/s 13(4) and is in progress, can the Bank revert back to a 13(2) provision for the same property?
Kiran Kumar
(Expert) 11 April 2010
no bank can not revert back, the whole proceedings are illegal now.....approach the DRT having jurisdiction over the property in dispute.