If guarantor as well as mortgagor makes the full payment of bank loan, can he appeal in DRT to transfer the title of actual loan borrower in case, the borrower makes the default in payment. Property which is mortgaged is the resident of both borrower and mortgagor. Does DRT has the authority to transfer titles? Which is the best remedy available with guarantor to recover his money?
JURISDICTION OF DRT AND BAR OFJURISDICTION As per Section 17 of the Act DRT shall exercise the jurisdiction, powers and authority to entertain and decide applications from the Banks and Financial Institutions for recovery of debts due to such Banks and Financial Institutions.
As per my understanding DRT cannot transfer tittle.