SARFESI

Querist : Anonymous (Querist) 09 March 2010 This query is : Resolved
I need urgent help, my uncle who took a loan from bank has expired and my aunt is not able to pay it now, Bank has send a POSSESSION CUM SALE NOTICE under the powers conferred by section 13(4) of SARFESI Act 2002 which says that
"...... the notice is given to borrowers and the public in general that the undersigned has taken symbolic possession of the properties...."

My aunt is the only earning member and she has 2 daughters and a mother-in-law to feed.

Please suggest what she can do to save her house as their home is the only property they own.

Thanking in anticipation

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Raj Kumar Makkad (Expert) 09 March 2010
In the given circumstances, the reply to the notice should be given citing all the circumstances and request to taken lenient view and grant some more time to your aunt.

nishad (Expert) 09 March 2010
I am sorry to hear this....

Please approach the bank and negotiate for a settlement.given a strong case bank will certainly take considerate view. Please do so without wasting much time

All the best

Querist : Anonymous (Querist) 09 March 2010
Should we file an appeal with DRT???

Kumar Thadhani (Expert) 11 March 2010
Try to solve amicably and and to arrive at the reasonable and suitable settlement between you and your bank and them for more lenght of time for payment.Better not to file appeal with DRE and try to save and tarnish your image and reputation of being BANKRUPT.

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