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Hitesh Gajjar (( Legal ))     04 October 2013

Help required

We have Finanaced Tractor under the Farm & Equipment Loan Account. Now problem is that that case are gone under the NPA Category and i want to issue Notice u/s 13(2) of the SARFEASI and then after want to do all procedure as per the SARFESI for attachment of that financed Tractor.


Can i do this thing.


 3 Replies

binay (advocate)     04 October 2013

u can issue 13(2) notice after 3 months completed of NPA.

consult a legal personal

mohammed imtiyaz abdul lateef (manager)     06 October 2013

i am exporter of garment, and send garment to saudi arbia, now buyer is refusing to pay bill amount, then what legal action should i take, we doesn't have any contract/agreement or terms and conditions. pls reply,

Nadeem Qureshi (Advocate/ nadeemqureshi1@gmail.com)     08 October 2013

Dear Querist

if you are registered financial institution then only you can use SARFAESI ACT's provision otherwise not. if you are then send a legal notice u/s13(2) of Act & give 60 days time to borrower to pay the entire amount with interest after that you can use all the power mention under 13 (4) of SARFAESI ACT

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