Upgrad LLM

bank notice


CAN BANK SERVE A NOTICE  UNDER SECTION 10(3) OF SARFAESI ACT THROUGH COURIER SERVICE.

IS SPEED /REGISTERED POST NOT COMPULSORY?

 
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Property due diligence 9422773303

Yes bank can serve by courier.

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CEO

Dear Mr. Gaurav Khanna,

The Bank has to serve any legal notice either per Speed Post A.D. or Registered Post A.D., if the Bank wants to proceed legally in a Court of Law. Courier receipts are not legally acceptable.

Kishor Mehta


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Speed post with A.D.also legally approved service.


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IN THE PRESENT CASE BANK SERVED ALL NOTICE THROUGH REGISTERED A.D. EXCEPT NOTICE OF SEC.10(3) OF SARFAESI ACT.

BANK CLAIMED THAT IT SERVED FROM COURIER AGENCY.

WHAT IT SHOWS WHETHER BANK IS DOING ANY MISCONDUCT. 

 
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Service through Registred with A.D. is complete and recognised service mode by C.P.C. and all the courts.  


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Advocate

Sec.10(3) notice is not to be served by the Bank, but to be issued by Manager appointed by the Board of Directors of the bank with the consent of the borrower. This section specifically does not mention the mode of service of notice.  But as per Rule 3, notice by Regd Post + AD, Speed post, courier or any other means of transmission of documents like FAX or e mail service are mentioned.


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