Greetings to Everyone,
I have recevied the notice u/s 13(4) of SARAFESI Act on 20th March and was informed that further action will be initiated u/s 14 of the same act within 45 days.
Facts of the Case-
Bank has issused me a notice u/s 13(2) for which I had submitted my reply within the stipulated time of 60 days. I have not received any answere from the bank on my reply. The bank has nither accepted my claim nor rejected it within the stipulated period of 15 days from the receipt of my reply.
I issued me a notice u/s 13(4) directly, and I was forced to file a SA against the same in DRT. Hon. Court heard the argument and granted "Symbolic Possesion" of my properties to the Bank.
OA is still pending with DRT.
I need guidence how to stop bank from auctioning my properties, legally.