I HAVE RECEIVED POSSESSION NOTICE FROM BANK WHAT IS THE TIME FRAME FOR BANK TO GIVE AUCTION NOTICE. WHETHER IT IS POSSIBLE TO MAKE O.T.S
I HAVE RECEIVED 40 DAYS BACK
PLS RESPOND IMMEDIATELY.
adv.raghavan (Advocate,9444674980) 07 May 2014
You are suppose to respond to that letter from the bank, within 60 days from the date of receipt ,and set the law in motion,,failing which the bank can move appropriate court to get physical possession order, including eviction process. In the mean time if the bank got some suitable buyers for your property, there is no need for them to for auction, failing which all the other process will start coming in. OTS will not be entertained by the bank at this stage.You are suppose to respond to them immediately, but u r asking us to respond immediately. Dont set time frame for us.