Counter claim under sarfaesi act

A counterclaim under the SARFAESI Act can be filed before the Debt Recovery Tribunal (DRT) or the High Court, depending on the specific circumstances of the case.

 Here's a general outline of what a counterclaim might entail [1][3]:

Counterclaim Format/Template Outline -

*Introduction*: Briefly introduce the parties involved, the loan account, and the circumstances leading to the SARFAESI action. -

*Background*: Provide a detailed background of the loan, the security interest, and any communications or actions taken by the bank. -

*Grounds for Counterclaim*: Specify the grounds for the counterclaim, such as: -

 *Unlawful or arbitrary action* by the bank. -

 *Failure to follow SARFAESI Act procedures*. - *Disputes over debt amount or interest*. -

*Any other relevant grounds*. -

*Reliefs Sought*: Clearly state the reliefs sought in the counterclaim, such as: -

*Stay on SARFAESI proceedings*. -

*Setting aside of the bank's actions*. - *Compensation or damages*. - *Supporting Documents*: Attach relevant documents to support the counterclaim, including correspondence with the bank, loan documents, and any other evidence. Key Considerations

- *Jurisdiction*: Ensure that the counterclaim is filed before the appropriate authority, either the DRT or the High Court, depending on the specific circumstances. -

*Timeframe*: File the counterclaim within the prescribed timeframe, typically within the specified period after receiving the notice under Section 13(2) of the SARFAESI Act. -

*Legal Representation*: It is advisable to seek legal representation to ensure that the counterclaim is properly drafted and filed [2][5]. Template A template for a counterclaim under the SARFAESI Act might look like this: IN THE [DEBT RECOVERY TRIBUNAL/HIGH COURT] [Jurisdiction] Counter Claim No. [Number] [Applicant's Name] ...Applicant Versus [Bank's Name] ...Respondent COUNTERCLAIM 1. The applicant [briefly introduce the applicant and the circumstances].

 2. The respondent bank has initiated SARFAESI proceedings against the applicant [ specify the actions taken].

3. The applicant disputes the debt amount/interest/charges [ specify the grounds for dispute]. 

4. The respondent's actions are unlawful/arbitrary [ specify the grounds]. WHEREFORE, the applicant prays that this Hon'ble Tribunal/Court may be pleased to [ specify the reliefs sought]. SUPPORTING DOCUMENTS ATTACHED: [List the documents attached] VERIFICATION: I, [Applicant's Name], do hereby verify that the contents of this counterclaim are true and correct to the best of my knowledge and belief. Signature: ______________________ Date: ___________________________ This is a general outline, and the specific requirements may vary depending on the jurisdiction and the circumstances of the case. It is essential to consult with a lawyer to ensure that the counterclaim is properly drafted and filed.