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SARFAESI

(Querist) 16 October 2010 This query is : Resolved 
My bank has not made inventory while taking possession of my movable assets under SARFAESI is it not contravention of the Act. What is my remedy.
Parthasarathi Loganathan (Expert) 16 October 2010
You can take up with the bank concerned seeking them to furnish the inventory.
Harshpal (Querist) 16 October 2010
I have requested them now they are saying the possession was symbolic & not ready to account for the inventory. Is there any such thing as symbolic possession of movables.
DEFENSE ADVOCATE.-firmaction@g (Expert) 16 October 2010
You have to go to DRT.
Harshpal (Querist) 16 October 2010
More than 45 days have passed after the bank took the possession. I can not go to DRT as it is time barred.
Uma parameswaran (Expert) 16 October 2010
show the reason for delay to the Tribunal.
RAVI B SHAH (Expert) 18 October 2010
If your reson for delay is acceptable DRT will admit yor case.


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