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Shivam Shukla   16 November 2017

Sarfaesi act

Can a secured creditor file a suit under Section 14 SARFAESI Act for possession of the property when an appeal is already pending under Section 17 Sarfaesi Act?

 



Learning

 1 Replies

PRASAD AKS (PARTNER)     18 November 2017

BANK CONCEALIN FACTS BEFORE DIST. COLLECTOR  TAKES ASSISTANCE OF POLICE  TAKES POCESSION OF PROPERTY.  IN DRT YOU NEVER RECEIVES ORDER FOR STAY REASON IS BANK ALWAYS ASKS TIME FOR COUNTER.   REMEDY DISCUSS BANK OFFICIALS AND SETTLE ISSUE  OUT OF COURT AS OTS  ORELSE YOU ARE BECAME INSOLVENT OR DIED  ONLY AFTER DRT PASSED ORDER.  IN OA 796/02 DRT, VISAKAPATNAM PASSED ORDER  DIFFENDENTS NO DUE TO BANK. BUT  BANK FILED SUIT. SO PAY CLAIM AMOUNT + 6% SIMPLE INTEREST  FROM DATE OF FILE  ITS 2009 ORDER.  IN 2017 PARTY SETTLES ISSUE AS OTS.  APEX COURT SET ASIDE SUIT .  SO LISION AND NOT WASTE MONEY FOR LAWYERS, TRAVELLIN, ZEROX.  MY BEST ADVICE.  .   

Sarfaesi Act  FAVOURABLE TO BANK.. 

 

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