How to settle with bank?

One Time Settlement With The Bank

Normally the banks do not keep a lacuna in mortgaging the property. This you can comfortably check. This is also reflected in the fact that if there may be any fault / discrepancy in the mortgage the bank may have lowered the Bench Mark for settlement .

If the mortgage is perfect the  bank will definitely shall be having every right to get the possession from the owners. Donation of the property to  charitable organization will not effect the banks rights, the donee shall receive the property subject to charge of the bank.

1. Bank has already taken symbolic possession of the property u/s 13(4) of SARFAESI Act,2002,

2. If you are aggrieved with the said possession notice, you are required to file an Application before the local DRT u/s 17(1) of the Act,

3. There is 100% chance that the Bank will take possession of the property with police help by applying to the DM u/s14 of the Act. SARFAESI Act is called a draconiam act enacted for the sole purpose of recovery of dues,

4. Normally it does not happen that Bank will make such a serious mistake. Please check up if all have signed the deposite of the title deed paper.

First of all whether it is registered mortguage or not and from which court you got stay. Lender will do every trick to recover money.

But if earlier stay was from local courts than you can raise third party objections for possession from local courts.

However what is the property involved and  amount of net dues as of now. Further action will depend on these issues.

Thank you for fast replay all of you gentelmen.

Stay from DRT III, 

It is mainly commercial property in Mumbai, 

Loan 10 Cr

Bank wants 15 Cr to settle. Didn't accept our proposal 7 Cr

And they send second possesion notice... 13(2) SARFAESI

Bank is missing signatures ...