Rbi ombudsman complaint

Querist : Anonymous (Querist) 12 June 2024 This query is : Resolved
One person filed complaint who not member of op bank before ombudsman of RBI against co op bank challenging attachment of house property under SARFESI ACT. What are defenses for co op bank.

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This discussion addresses a co-operative bank facing an RBI Ombudsman complaint concerning the attachment of a house property under the SARFEISI Act. The core issue revolves around potential defences for the bank, especially if the property owner is not a bank member or if it's a third-party property. Key considerations include whether the bank followed the SARFEISI Act's prerequisites and if the defaulter adhered to the prescribed objection procedures. Seeking advice from a panel advocate is recommended for navigating the specifics of the case and potentially directing the defaulter to the Debt Recovery Tribunal (DRT).

T. Kalaiselvan, Advocate (Expert) 12 June 2024
What is the reason the co-op Bank is relying upon for invoking sarfaesi act, if the act is properly applied as per provisions of law then there's nothing to be worried about it.

P. Venu (Expert) 12 June 2024
The posting is short of material facts.

kavksatyanarayana (Expert) 12 June 2024
Yes. Your query lacks clarity.

SIVARAMAPRASAD KAPPAGANTU (Expert) 13 June 2024
What exactly you mean by "who not member of op bank"?

Whether the mortgaged property is a third party property?

Has the Bank followed the prerequisites under Sarfaesi Act before issuing possession notice and actual possession?

There is a process prescribed for the defaulter also to follow for objecting Bank's action in terms of Sarfaesi Act. Has the defaulter followed the set procedure?

If answer is yes to both the above, you may inform Banking Ombudsman the facts of the case as well as provisions of Sarfaesi Act requesting to dismiss the case and to advise the defaulter to appeal only in DRT as prescribed in the said act.

As a Bank, even as a Coop Bank, you are likely to have Advocate on your Panel. You may contact your Panel Advocate, as per your internal guidelines, for doing the needful based on facts of the case.

Sudhir Kumar, Advocate (Expert) 14 June 2024
please share all relevant facts.

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