action under sarfaesi act


Bank had taken symbolic possession of my house on 26.02.2013 after the issue of a notice under SARFAESI Act in December 2012.Bank had published possession notice in  the news paper on 05.03.2013 and house was valued by a valuer in the same month

In June 2013,my PF was settled and entire amount of Rs.3.00 lakh was credited to housing loan account leaving a balance of Rs.2.65 lakhsin my housing loan account.Bank had confirmed to me through email that Rs.3.00 lakhs is credited to my housing loan account on 04.06.2013

Balance of Rs.2.5 lakhs was repaid by me over a period of 5 months till November 2013 with interest.When I asked for No due certtificate,bank did not respond,but after 1 month ( January 2014) bank informed me that amount of Rs.3.00 lakh was credited to housingt loan account erroneosly and it is now reversed on 31.12.2013 and credited to my OD account.Bank 's Authorised Officer has not yet replied  various queries  egarding my housing loan account.Bank is charging interest at commercial rate of interest with monthly rests whereas Bank has to charge interest at simple rate of interest with half yearly rests.Bank has not informed me the modifications in my housing loan account..Now,Bank has issued me a auction notice that house will be auctioned on 28.03.2014.

I have filed an appeal before DRT under section 17 of  SARFAESI Act for which there is no response so far

Please guide me suitably in the matter


have you not obtained a stay order from DRT to the auction of the house? your case appears to be quite good. Once the bank had made appropriation of the PF money to the Housing loan account with your consent and instruction, they cannot later reverse it and credit the OD a/c with that money. 




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