Notice under Section 13(4) of SARFAESI Act, 2002

Mr.Parshureddy,

I have an answer for you. But first of all, why would you like to cheat bank by not paying after obtaining the loan?

Originally posted by : Vijyant Nigam (09807349001)

Dear Members
There is a question before me that if the borrower has knowledge that the bank has prepared the notice under section 13(4) of the SARFAESI Act, 2002 and the borrower also seen the same when he went to bank to give a request letter for granting time for 40 -45 days for the entire payment.
However the bank has not gave the said notice to the borrower by hand.
It is anticipated that the same would be published and also pasted on the property mortgaged in 2-4 days.
The said action will be defamatory for the borrower.
I want to prefer Securitisation Application under section 17(1) of the SARFAESI Act, 2002 in anticipation.
Please discuss on the issue.
Thanks and Regards
Vijyant Nigam Advocate

This discussion on Notice under Section 13(4) of SARFAESI Act, 2002 highlights crucial legal aspects regarding NPAs, interest charges, and bank actions. Understanding the rights of borrowers and guarantors under banking laws is essential. Thanks for the informative insights!