As per S. 13(10) of the SARFAESI Act, 2002 "Where the dues of the secured creditor are not fully satisfied with the sale proceeds of the secured asset, the secured creditor may file an application in the form and manner as may be prescribed to the Debt Recovery Tribunal having jurisdiction or a competent Court, as the case may be, for recovery of the balance amount from the borrower"
Question : From when the limitation needs to be calculated to file the "loss on sale" application?
Whether it has to be calculated from the date of NPA ?
Or from the date of last auction of the property when the bank is receiving the sale amount?
