DRAT

hi

Regarding brief facts of the case as narrated by you and your inability to pay the money and furhter bank intending to sale your property at throw away prices and as per your advocate saying that there are some points on which you can win the case but for the same you have to pay the amount as fixed by the tribunal which apparently seems to be not possible from your side..

As per my view one way which is open for you is to bring a prospective purchaser before the appetllated tribunal for purchase of your property at proper price in which case bank will also satisfy thier claim and you also can save your property to sale at throw away prices.

File a Review Application before the DRAT  and apprise the Chairperson, the defects in the proceeding on the part of the bank and to get the Interim Order reversed or modified with a smaller amount.  Otherwise your only remedy is by filing Writ before High Court.

You file civil suit for lacunae by bank officers ,and put your mortgaged property in lis pendence so that nobody will take part in auction.

You file civil suit for lacunae by bank officers ,and put your mortgaged property in lis pendence so that nobody will take part in auction.

Patil saheb civil court have no juridiction in DRT matters.

You have to contest matter before DRT only and go in appeal to DART than HC.

RESPECTED SHASHIKUMARJI I HAVE NOT ASKED TO APPEAL TO CIVIL COURT ON DRT"S ORDER. FOR PROCEDURAL LACUNAE ON PART OF BANK OFFICERS THE REMEDY LIEDS ONLY AT CIVIL COURT.ONE CAN TAKE THE ADVANTAGE OF THE LEGAL COURSE AND PUT HERDALS IN PROPERTY AUCTIONS. THATS ALL.                                                                                                                                                                                                    secondly while filling appeal to DRAT it is mandetory to pay some portion of outstanding which may very from 75% to 50%.if borrower is having that much amount in pocket he will verywell run his business and come out of NPA by means of profits only.  sorry again if  i m wrong on  on pure legal point of view but i had somany ssi ruined by this drt drat ans secruit...and this formula prooved sucessesful.            

That what I am telling you Patil saheb the deposit rule has been stuck down by SC and no civil court will admit any case , it is the sole juridiction of the DRT AND DRAT.  

As per section 18 of the Securitisation Act, while preferring for an appeal against the order of  the Ld Presiding Officer of the DRT the borrower has  to deposit 50% of the Notice amount equivalent to 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:  or  with the Appellate Tribunal which 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 as stated earlier.

In the circumstances the view expressed by Mr. Bhagwat Patil is the only which may help you.

Your case is glaring example how draconian is this act 

hello all experts,

i want information for my company which cash credit account is treated as npa and sicuritation notice is issued, the reason for npa is that c.c. money is becoming debt in my sister concern in which i am partner, and other partner don't give me money. so i have put case for civil court for clearefication of accounts of our sister consern in which i am partner. so please give me solution on such basis how can i stop bank to take possession of my personal property which is give for my personal c.c.

please give me solution as soon as possible.

thanks

sachin 

Your partnership dispute has nothing to do for secru. right of the bank,secondly the bank can take only symbolic possession not a physical possession that to only mortgaged property only.and the bank officers make several mistakes from sanctioning to the recovery for every illegal action you can go to civil court. appoint local advocate for the same.

Fisrtly the most imprtant part of the Npa Classification is that the account of the borrower is declared as an npa in terms of the borrower wise and not account wise. For instance a borrower has a term loan accont and one cash credit account. now if the cash credit account is classified as an NPA then all the accounts of the borrower is classifed as Npa. IN your case the accounts of the borrowers are different there for the same cannot be treated as an NPA. Further please note that your other business concern is a partnership firm and you cannot say that the due to the fact that the other partner is not depositing the money that is why the account has become an NPA\. Please note that the partnership is treated a one unit and it really does not matter in respect of transaction with the bank as to which of the partner is paying the money and which of the partner is not paying the money. Therefore classification of the accont as an NPA on the basis that the account of the pa\rtner ship firm has become NPA (where you are a partner) is totally illegal and agaist the norms of the RBI guiselines. You inform the reserve bank of india of such irregularties and file a writ applicaiton before the High Court in this regard.

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