As per Supreme Court judgments cooperative banks come under the purview of SARFAESI Act, hence there is nothing wrong if a cooperative bank issues a notice under said Act. After the bank takes any action under section 13 (4) you have to move the DRT by filing Securitization Application under Section 17(1) of the Act. Before that when you receive Demand Notice under Section 13(2) you have the option to make any representation to bank regarding reduction of excess interest charged etc. In that representation you can demand the bank to supply with necessary documents to enable you to calculate on your own the amount of balance and you arrive at the present outstanding balance using Microsoft Excelsheet it is simple calculation. If it is floating interest rate you can demand the banker to supply the rates of interests and changes thereon and calculate accordingly. You can argue in your SA that excess interest has been charged in your account if you find any variation between your own calculation and bank statement. Or if the bank neglected to supply necessary data, you can complain about it to DRT and seek stay from it till bank supplies the necessary data to you so that you can argue your case properly.
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