Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

ARUL INBAA (PROFESSIONAL)     25 January 2012

Drt

SIR,

ONE OF MY CLIENT'S PROPERTY WAS AUCTIONED BY BANKERSUNDER SARFASSI ACT WITHOUT FOLLOWING PROCEDURE ADOPETED AS PER SARFASSI ACT. THE CAS IS PENDING BEFORE DRT. THE PROPERTY WAS SOLD AT THROUGH AWAY PRICES WITH SYNDICATION BETWEEN BANKER AND BUYER. IS THERE ANY POSSIBLILTY TO GET BACK THE PROPERTY BY PAYING CHARGED HOLDERS DUE.



Learning

 3 Replies

DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE )     25 January 2012

You have to follow the lengthy procedure of DRT, ADRT, HC and even SC to get justice.

Advocate Bhartesh goyal (advocate)     26 January 2012

If the bank has auctioned the property without following the procedure then you can challange the same by filing appeal u/s 17 of sarfessai act.

Nadeem Qureshi (Advocate/ nadeemqureshi1@gmail.com)     28 January 2012

Yes, Only sec 17 of SARFAESI ACT is the remedy for this type of the act done by bank officials.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register