Combined possession notice u/s of 13(4) sarfaesi act

what are the situations of the Property, are they joint property

Bank can issue possession notice u/s. 13(4) after issue of notice u/s. 13(2). As per my knowledge bank has not done anything wrong in issuing combine possession notice.

All seperate Properties

Due to heavy rush of NPA s in the banking system no body looks for finer points.

You have many options.

1) Let the bank take possession and sale and file cases for balance recovery.

2) You can take opbjection even for sale. after all these happenings.

3) File a declaration suit in court of proper jurisdiction for declaraing the mortgage illegal and hence SARFAESI  act not applicatble.It may take time but final sale of assets or may even attachment of assets will be delayed.

For all this you need expert legal assistance.

Please elaborate and explain your third point: "File a declaration suit in court of proper jurisdiction for declaraing the mortgage illegal and hence SARFAESI  act not applicatble.It may take time but final sale of assets or may even attachment of assets will be delayed."

Mr.Nilesh, I'm not convinced with the suggestion given by Mr.Lakshminarayanan. It is better if you scan and post the Demand Notices as well as possession notices.