sarfasi Act

preet (Querist) 22 January 2011 This query is : Resolved
After recieving the notice under section 13(2) of sarfaesi act party brought the matter under DBS,of RBI. Then RBI make communication with the head office of Bank. What will Bank do? Shall the bank direct goto DRT on first reply to RBI.

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Advocate. Arunagiri (Expert) 22 January 2011
What was the communication given by the RBI to the Bank?

abhishek (Expert) 23 January 2011
two simultaneous proceedings cannot be adopted by Bank. and otherwise you have many questions to be asked about this, better to give a brief of whole to get a complete answer.

DEFENSE ADVOCATE.-firmaction@g (Expert) 23 January 2011
Ultimately you have to pay otherwise the provisions are coercive and remedies few UNLESS YOU CAN AFFORD AND HAVE REAL PROBLEM.

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