pradeep (ceo) 08 November 2013
Sir's Query on SARFAESI ACT and CAVEAT in Magistrate Court
Sec14 gives right to secured creditor to approach Magistrate for taking possession,
CAN THE BORROWER FILE CAVEAT IN MAGISTRATE COURT ? If "Yes" under what rule, I will be highly obliged if you could provide Citations / Judgements
Normally since filing caveat is civil in nature, the request for filing caveat in Magistrate court is summarily rejected
Thank you.
Adv Archana Deshmukh (Practicing Advocate) 08 November 2013
Caveat cannot be filed in these proceedings. However, you can suo moto appear in the proceedings if you want and put forth your side.
pradeep (ceo) 08 November 2013
Thank you for your reply...
But bank approaching Magistrate for taking Possession is CIVIL in nature and hence can we also file a CAVEAT
T. Kalaiselvan, Advocate (Advocate) 08 November 2013
u/s 14, the secured creditor is seeking the help of court to take possession f the property hence the question of caveat does not arise for the matter which has already been decided.
pradeep (ceo) 09 November 2013
but sir, then there is Natural Justice, Bank has already filed a CAVEAT with DRT, Iam only asking my side to be heard before giving any order. Borrower has no other forum to raise his grievances against the wrong doing of bank. Let the Magistrate send the issue to DRT and let the DRT decide on possession.
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