Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

francis (CHIEF)     01 July 2016

Possession notice pls help

Dear Sirs I have availed loan in nationalised bank, but due to some bad loss I couldn't pay the loan, and bank have already made auction ( first) on 2014, but nothing happened. Now bank have painted in property compound that" possession taken by bank". Whether bank will make fresh start or it will take physical possession. Because already 8 tenants is living in the property. Kindly reply Sirs... Awaiting ur valuable reply. Regards Francis.


Learning

 4 Replies


(Guest)

Sir,

Engage an able counsel for representing you. Find out if there is any proceeding going on in DRT. Also through counsel and personally try to reach out to bank officials and gain some time. Under SARFAESI Act banks can sell the property on as it is where is basis.Also the rent may be attached. The consequences are much. If you need further assistance you may reach out to me on  the below given number.

Regards,

Rit Arora

Advocate

7838737001

adv.bharat @ PUNE (Lawyer)     01 July 2016

If one auction is unsucessful then other may be conducted within 15 days.

Bank can also take means profit i.e. rent consideration also.

francis (CHIEF)     02 July 2016

Thanks For the valuable feedback counsels I need a clarification from your side. 1.Bank have filed a OA in DRT, what is the procedure for bank or by using sarfaesi act with any order whether bank could take possession??? Pls clarify me the difference between DRT and sarfaesi. Is it possible by attending the DRT would hold sarfaesi possession???? Pls reply Sirs...

francis (CHIEF)     02 July 2016

Thanks For the valuable feedback counsels I need a clarification from your side. 1.Bank have filed a OA in DRT, what is the procedure for bank or by using sarfaesi act with any order whether bank could take possession??? Pls clarify me the difference between DRT and sarfaesi. Is it possible by attending the DRT would hold sarfaesi possession???? Pls reply Sirs...

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Post a Suggestion for LCI Team
Post a Legal Query