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Sjksjksjks (proprietor)     24 January 2012

Bank's dadagiri in name of drt

In Securitisation Act2002, before DRT, the Bank Prayed for sell of  borrower’s flat and so  DRT ordered accordingly for the same. The Bank has not prayed to sell the factory of the guarantor and so in the Order of DRT nothing is mentioned regarding factory of the guarantor.

However the bank is auctioning the factory of the guarantor and not the flats of the borrower.

Query :- What action can be taken against the Bank and how the said factory of the guarantor can be saved from them ?
Seeking guidance,

Thanks, Regards




 6 Replies

Advocate M.Bhadra   24 January 2012

Bank distribute loan which is public money and they have right to realised the same.In fact some cases Bank does not fowllow RBI guide lines to recover the loan,they send recovery agents to the borrower house and adopt unlawful means without due process of your case it is seems that the Bank created mortgage the guarantor's property as a secured assets,the guarantor should file a case u/sec.17(1) of the SARFEASI Act in DRT as an aggrieved party.

DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE )     24 January 2012

you can take legal action even from civil court.

Advocate M.Bhadra   24 January 2012

Civil Court have no jurisdiction to try and entertain the matter under the SARFEASI Act  according to sec.34 of the said Act.,DRT is the proper jurisdiction.

laxman (associate)     24 January 2012

Appeal to Appellate Tribunal

(1) Any person aggrieved, by any order made by the Debts Recovery Tribunal under section 17, may

prefer an appeal alongwith such fee, as may be prescribed to the Appellate Tribunal within thirty days from the

date of receipt of the order of Debts Recovery Tribunal:

PROVIDED that different fees may be prescribed for filing an appeal by the borrower or by the person

other than the borrower:

PROVIDED FURTHER that no appeal shall be entertained unless the borrower has deposited with the

Appellate Tribunal fifty per cent. of the amount of debt due from him, as claimed by the secured creditors or

determined by the Debts Recovery Tribunal, whichever is less:

PROVIDED ALSO that the Appellate Tribunal may, for the reasons to be recorded in writing, reduce the

amount to not less than twenty-five per cent. of debt referred to in the second proviso.

(2) Save as otherwise provided in this Act, the Appellate Tribunal shall, as far as may be, dispose of the

appeal in accordance with the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act,

1993 (51 of 1993) and rules made thereunder.

Sjksjksjks (proprietor)     24 January 2012

Sirji, in this reagrd I further clarify that (1) While giving loan the Bank had mortgaged the borrower's flat only and not the facrory of the guarantor,  (2) Only the leter of guarantee was sigfned by the guarantor. (Further the DRT II has ordered the Bank to issue Recovery Certificate to the borrower's flat.  BUT THE BANK ISSUED GOT ISUED RECOVERY CERTIFICATE FROM RECOVERY OFFICER FOR THE FACTORY OF THE GUARANTOR.

(1) Can I approach the Magistrate Court in IPC if yes which section of IPC is most suitable here,

(2) Is it contempt of the Order (crossing and going beyond the scope of the Order) and does it mandates to go to the DRT-II for such blunt actions



subodhkumar (proprietor)     24 January 2012


simply first procure copy of the order passed by drt in your borrowers case and if it is right what you say that order is against the borrowers flat then you first write letter to the bank and bring to there notice about the fact in writing and tell them to correct it by applying the order on proper person and property and not the other way the bank is now doing to you collect the acknowledgement and also mark the copies to rbi and banks higher authorties at once.

subodhkumar            if you require further assistance  e mail :

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