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Forfeited amount returned to successful bidder in auction

Page no : 2

harman   01 July 2015

Thank you Raju sir for your response.  No Sarfaesi expert am I, or a lawyer for that matter.

anirudh   08 July 2015

Can the Bank act in such an arbitrary manner without direction from the DRAT/DRT and return the money to the bidder?

madhukrishna   31 July 2015

In the meantime, for unknown reasons, the Bank went ahead and returned the 25% money of the successful bidder, and the bidder exited the Sarfaesi process.

racharavi   05 August 2015

The bank has claimed that since the bidder has left, the application before the DRAT was infructuous, and the case has been reverted to the DRT for disposal on merits.

adv.bharat @ PUNE (Lawyer)     05 August 2016

You will be benefited by expert advice.

agree with Ramachary ji and Dhingra ji.

Ms.Usha Kapoor (CEO)     04 September 2016

Yes! 25% EMD should have been  forfeited by  bank s per the citation givenby Mr.Rama charyand applied for repayment of part of the borrowers loan as per Madrs Highcourt Decison ccited by Mr.Chary.The Bank mischievously returned   the 25% EMD to the sucessful bidder who also knows avbout the SA  pendig before .DRT.The Bank's mischief is highly reprehensible.

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Ms.Usha Kapoor (CEO)     04 September 2016

Dear Client,

                   Yes! 25% EMD should have been  forfeited by  bank s per the citation givenby Mr.Rama charyand applied for repayment of part of the borrowers loan as per Madrs Highcourt Decison ccited by Mr.Chary.The Bank mischievously returned   the 25% EMD to the sucessful bidder who also knows avbout the SA  pendig before .DRT.The Bank's mischief is highly reprehensible.

1 Like

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