mesuggest (prop.) 31 May 2015

Is counter claim possible in drt

Sir, My case is somewhat similar to the case of ‘maskadvise’.

The case is that since last 24 months the Bank is not selling my secured Flat.

The Bank has fixed twice the sale-program and fixed Reserve Price of the Flat at Rs.15.00 Lacs.
And I told the bank that I have no objection to sell the said Flat at any price so that interest on the amount of sale-proceeds will be stopped.
But both times the officer of the Bank did not remained present in public auction while some person came at the place of auction along with the Demand Draft of EMD.

One Hand, the Bank is purposely not remaining present in the public-auction but on the other Hand the bank is continuing charging me interest @ 12% p.a. in my loan account for the loan amount of Rs.20.00 Lacs.

Thus by act of the Bank I lost interest on would be sale-proceeds amount for last 24 months and continuing to loose the interest.

Kindly suggest whether I can file Counter Claim in DRT for the loss of interest amount from last 2 years till the realisation of sale-proceeds of my Flat.

Thanks.

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3 Replies

T. Kalaiselvan, Advocate (Advocate) 06 June 2015

Whether the bank issued notice under the provisions of sarfaesi act and had taken symbolic possession?, The they are not supposed to charge interest after taking possession, this may be agitated or objected to. I the meantime you may approach DRT for relief against the possession and not for claiming the interest.

mesuggest (prop.) 07 June 2015

Sir,

this is the case wherein the Basnk has taken action not under SARFAESI Act but the Bank actually took action under RDDBFI Act.

And the R.C. had been issued in the year 2010.

Regards

T. Kalaiselvan, Advocate (Advocate) 07 June 2015

This act is an Act to provide for the establishment of Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions and for matters connected therewith or incidental thereto.

However, if he bank has filed petition before the tribunal for recovery of debts —The Recovery Officer shall, on receipt of the copy of the certificate under sub-section (7) of section 19, proceed to recover the amount of debt specified in the certificate by one or more of the following modes, namely:-- (a) attachment and sale of the movable or immovable property of the defendant; (b) arrest of the defendant and his detention in prison; (c) appointing a receiver for the management of the movable or immovable properties of the defendant.

This being enforced,there is no reason for the interest to be charged after that also. You can protest it and challenge the same before the tribunal which has passed this order.